Let's start by looking at the . The first and strongest is the yellow one, it's holdin ETH down. The orange was formed shortly after, followed by the green . Both the orange and the green have been breached, but its whatever. We still need the yellow to hold or well probably test 1100, finally.
If the yellow isn't breached, I assume the price will drop out of the (purple).
ETH is consolidating a lot, from my perspective it looks like it will ride in the red channel, leading to 850.
Also, peep the notes on the .
This is just my analysis, but remember, I don't know dick, about dick, seriously.
I did some charts from the other day but they look like trash, so don't worry about them.
So, the yellow trend line was breached, but ETH failed to breach the 1100 price level. It almost made it at 1098.74 (GDAX), so the red channel is still in play.
The breach of the yellow trend has provided us with a new trend line, shown in blue.
There is also slight bearish divergence from the failed 1100 attempt, check out the blue notes on the chart.
I will try to keep this chart as up-to-date as possible.
Remember, I don't know dick, about dick, so do what you please.
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