Looking at ETH/USD I am not sure about this support level. I feel more downside is likely and the next level down provides a more convincing spot to build a base of support.
I would be tempted to short with a tight stop at this juncture.
Komen
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INVALIDATION
Relief rally went to the resistance and invalidated this idea.
Komen
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I was correct on this one, just not on the timing.
BUT I feel I will still be correct on this one medium term.