We all have seen this pattern before. The price drops significantly, the comes back to where it dropped, stays there for a bit and drops again. I placed that trendline there because I believe we will see a quick touch there or over the trendline. I see 6400-6600 as a reversal zone but it's also possible to happen right now because the price is facing the 2018...
This is a possibility because in order to ''launch the rocket'' it needs fuel. So overall I am expecting a downtrend channel, which at some point will explode. I support this idea because a downtrend channel is hard to spot in its early stages and sudden price rises can trick many people. Which is great for the ''big boys'' who are controlling the price.
PS: The...
I feel like ETH going up now is like a rocket without fuel..so the only direction that can go is down. The analysis is self explanatory. If you think I am wrong please tell me why.
