A hard rejection at 200EMA sends ETH into the 3000s before recovering back to 3210 critical.
Current candle close is expected to be within the support boundaries but weekly recovery (green intersection) is now a distance away.
Failing to reach this goal may result in subsequent consolidation within the lower half of pattern leading to eventual breakdown.
Assuming we close today at pattern support we should look to close tomorrow at the orange intersection; this line will be adjusted once close is established.
www.tradingview.com/chart/gDBkksfy/
Also, apologies for the missing post I was travelling most of the day and didn't feel too well.
Current candle close is expected to be within the support boundaries but weekly recovery (green intersection) is now a distance away.
Failing to reach this goal may result in subsequent consolidation within the lower half of pattern leading to eventual breakdown.
Assuming we close today at pattern support we should look to close tomorrow at the orange intersection; this line will be adjusted once close is established.
www.tradingview.com/chart/gDBkksfy/
Also, apologies for the missing post I was travelling most of the day and didn't feel too well.
