ETH Bear Flag
Quick update on ETH:
ETH has formed a potential bear-flag, as indicated.
Currently playing around midline of the rising channel, breakdown first target is the lower (red) trendline of channel, and a breakdown of the channel should result in a retrace to local lows from earlier today (indicated by green line on chart) or a measured move would be the blue line below that.
If ETH performs this move and retraces to local lows, a breakdown to further lows is likely.
ETH has formed a potential bear-flag, as indicated.
Currently playing around midline of the rising channel, breakdown first target is the lower (red) trendline of channel, and a breakdown of the channel should result in a retrace to local lows from earlier today (indicated by green line on chart) or a measured move would be the blue line below that.
If ETH performs this move and retraces to local lows, a breakdown to further lows is likely.
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