Ethereum forms flag/pennant following down move
Ethereum (ETH) is outperforming the other major cryptos today, as seen on the charts. Following a spike downwards, ETH has formed a quick consolidation (flag) and presents the best shorting opportunity of the major cryptos. On the chart you can see my price targets - ranging from least to most aggressive. The last price target is simply cloning the flagpole and subtracting it from the bottom of the flag - the typical way of price targeting using flags/pennants; however, my own buy-back target is set higher: $367.5.
1. (402-367.5) = 34.5
2. (34.5/402) = 8.5%
From $402 I am calling a profitable short opportunity of 8.5% within 24 hours.
Unlike other traders, I give you specific price targets. That means I could be wrong - do your own work.
-Reece
1. (402-367.5) = 34.5
2. (34.5/402) = 8.5%
From $402 I am calling a profitable short opportunity of 8.5% within 24 hours.
Unlike other traders, I give you specific price targets. That means I could be wrong - do your own work.
-Reece