Scalpel — Forceps — Suction — Ethereum On Operating Table

22 feb 2018Hi friends! I just want to get a quick update out on ETH. You can see that we're in a small bear flag, and appear to be gearing up to test a major support level (maroon trendline.) You can see that ETH has held this support level on three other occasions, so it is definitely a significant level. If/when ETH drops from this bear flag, we can expect a test of this level, around 768, as support. It will be interesting to see if this level holds. Last time it fell, you can see what happened — ETH fell like a dead bird from the sky, until it hit the bottom of the channel. If you're bullish, you probably don't want to see that level fall. Just below it, however, is the 78.6% retrace, but I doubt it would be very supportive, because it hasn't been very reactionary. For now, keep your eyes on this flag. If ETH breaks down, the action around the 768 area is going to be critical. I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic. Au revoir.

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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

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-JD-