EJSM

ETH - Broken H&S; Proceeding to Test $800 Support Area

COINBASE:ETHUSD   以太坊 / 美元
Awaiting market behavior at this area. ($800ish)

If market breaks below $800 we should see further consolidation near $730 - $690

"Worst Case" : A test to $500
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Weekly sentiment is bearish .

Daily & H4 Demonstrate bearish behaviors.

Consolidation expected.

https://drive.google.com/file/d/1_cPWNHk... << ETHUSD Possible Break and Target Point Listed on Page 2
Looking at the bigger pricture since price has been dropping from ATH we have had 3 wave so far hit ceiling of the downward trendline. Following this trend would suggest that price will go all the way to 500, worse case as you say.
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EJSM aformby
@aformby,

Yes and no, I'll explain why.

If you take a look at raw price action, we've already achieved a validation point of a down trend on the 17th. The market can change direction at the support levels listed ($800 & $690)

Note however that the bottom trend of the channel is still awaiting a validation point, which resides on the $500 level... A major support level as well which was established from November and December of 2017.

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@EJSM, Thanks for the chart. :) Looking at the last wave it looks like we could be forming a monster H & S, which if played out would target us at 500 ish level
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