It clearly shows that Ethereum is bearish as it continue to fail to make any new highs and support zones are breaking one after another. If Ethereum wants to turn bullish again it needs to commit to make higher highs by breaking out $320 levels.
First Target: $200 and Final Target is $120-$100.
I'll keep you updated :)!
-Abdulla
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Ethereum is 10% DOWN today!
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TARGET 1 REACHED :)!
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Ethereum has showed no sign to turn around yet, will it target $100 in the coming weeks?
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Price has hit the minor trend-line, in the next couple of hours we will have more information to see if prices really want to rally in the short-term or continue straight to our second target of $100.
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We saw a nice bounce by cutting some losses on Ethereum. However, don't get trapped as this could be a bull trap. Ethereum is trying to go back and trade above $210 range, but it failed twice.
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As mentioned, it seems the bounce was a bull trap as prices are still falling as of now. I'll keep you updated :)!
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Lower high has formed, it seems that we will break $170 soon.
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Down 8% today - $17 away from breaking the bottom
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Ethereum has lost more than 40% since this idea was published. Bears are still in control! - goodluck all :)
Hi,
new point of view from harmonic.
AB=CD or bearish Bat.
I'm learning,it's just an idea,( sorry if I make mistake ).
Regards.
abdullatrader
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@Pter, Thanks for sharing your idea. Trading view is all about accepting other people's ideas and views :)!
Goodluck with your trade.
NoCode326
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I respectfully disagree with this assessment. In my opinion, there is absolutely no chance of Ether hitting $100-120 without a major hack, DDos, or the like. In fact, I believe the downward channel is a bear trap and Ether will break out shortly. It has already retraced 50% of it's high, bottomed at $210, followed by massive double/triple bottom at $250 which might end up being a 4th today. There are way too many confident shorts in this market for arguably the best long term crypto play available. Good luck.
abdullatrader
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@NoCode326, There is absolutely no problem with not agreeing with the idea, as this is how markets are shaped. I agree, we might never see $100 however until we see a strong bullish sign then this target is still valid. Thanks and good luck :)!
shebotnov
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@NoCode326, he never said thats what will happen. I think you dont understand how trading works. As of right now the market seems bearish, hence his prognosis.
abdullatrader
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@shebotnov, Thanks for the comment. As you have mentioned, as a trader I don't care if the market moves up or down as I can trade both ways and make the profit. The chart clearly tells me that Ethereum is bearish and until it gives me a strong bullish sign, then I'll change my view :)
shebotnov
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@AAlFadhala, Exactly, I was replying to @NoCode326 that thought, you were predicting something with 100% accuracy.
abdullatrader
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@shebotnov, Thank you :)! I have read a nice quote out of a trading book few years back about the rules of trading - "You will never find true sanctification in trading if you expect perfection and make excuses when perfection totally ignores you."