Have to see how this plays out but ETH/USD on the 2 hour chart looks to be a carbon copy of itself before the last retrace happened.
The Constantinople hard fork of Ethereum on Jan 16th may disrupt this - or maybe this is the last drop before that.
Overall the market is still bearish and shorting is the safest move currently.
The Constantinople hard fork of Ethereum on Jan 16th may disrupt this - or maybe this is the last drop before that.
Overall the market is still bearish and shorting is the safest move currently.
Note
Failed at the 0.786 Fib region for the 5th time.Thought: ETH Constantinople update news could actually cause sharp sell offs if people have been accumulating, new buyers may panic sell before Jan 16th after it goes down by say $5-$10.
Trade active
Entering a short position on BitmexReasons: Repeated failure to break above 0.786, volume lowering for 4 days, downtrend, bear market + my TA matches.
Note
Created a version of this chart on the 1 hour chart: 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.