pgarret
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ETP down trend continues

BITFINEX:ETPUSD   ETP / Dollar
BITFINEX:ETPUSD            
Although is under evaluated coin the downtrend is going to continue for a while. There is a strong support at $2.80 which was tested twice.
The issue is that the down trend triangle is deepening and based on Fib we know that the correction will claim around 80% which seems to be the norm for most of the coins.
After the bottom is found will need to build a base and then break out. This could take some time, could be a month or two. Maybe I'm too pessimistic here, and hope the correction will be shorter, time will tell.
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