ETH/USD - Massive wedge breakdown, CRASH. ETH is weak.
ETH had today over 150,000 pending transactions during the crash. Can you imagine HOW many transactions got stuck in this flash crash? How many tried to sell or buy and FAILED...
Not good.
On a technical level, ETH broke down from this massive wedge (in blue) which was a significant bearish signal. You should have sold at that moment, not later.
Now we find ourselves at support around $1,800. Will this hold? Hard to say. ETH has been very weak lately and on Kraken it fell 60% to 700$!!! Not good.
Nevertheless, we should get a nice bounce and maybe re-test support a few time before we can try our luck at 2k again.
As long as support holds, I remain bullish.
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Not good.
On a technical level, ETH broke down from this massive wedge (in blue) which was a significant bearish signal. You should have sold at that moment, not later.
Now we find ourselves at support around $1,800. Will this hold? Hard to say. ETH has been very weak lately and on Kraken it fell 60% to 700$!!! Not good.
Nevertheless, we should get a nice bounce and maybe re-test support a few time before we can try our luck at 2k again.
As long as support holds, I remain bullish.
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my TA videos on YouTube!
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