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Ethereum (ETH) Short the rally, 20%+ expected gain

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Ethereum has been one of my biggest winners this past month, and I have been shorting it since 300. Right now there is no evidence we have yet reached the bottom, and despite the correlation between Ethereum and Bitcoin, Eth has been slowly declining.

I believe Ethereum will reach 150 USD and my long term target will be 110 USD.

Right now we are looking at a consolidation zone, but Ethereum at 200-215 is a golden short opportunity if it ever gets there. I believe there is little chance we are going past 200 USD currently.

Therefore, you may short Ethereum

Short 190$+

Reduce position/stop loss
210$

193$ if you are using high leverage.

Take profit:
178$
157$
130$

I am currently short Ether from 210, and on my alternate account I have recently entered a short at 192.

I am short Bitcoin from 6700 and will add if it ever retests 6600.

Thanks for viewing! You may find my thoughts on other altcoins such as Tron in the related ideas section.

Nota

This rally may end here or push up to 215.

Nota

This is the first zone of resistance. If we break through convincingly we may retest the 230 levels.

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We will now be consolidating in this range or rejected. If we do break this, I could see a retest of 230.

I believe we will fail, but make sure you prepare for all outcomes.

Nota

EIP-1234 will reduce block rewards from 3 ETH to 2 ETH in a month. This will reduce inflation to around 4% in order to reduce selling as mentioned in the comments.

This is bullish news for Ethereum but I still believe there are good shorting opportunities due to the BTC/ETH correlation.

Nota

We failed to break the 220 level.

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Looking like we will retest 220 again. Breaking through would mean 230 is likely.

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For a scalp, if it ever retests support zone and holds, you may long and expect a rally to 233.

This was based on a previous fractal that seems to be holding up so far.

Nota

I think we will retest 200 again.

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This looks like a double top and so far the candlesticks confirm it, as well as the RSI. Take profit at the 200 USD price.

Nota

Nota

$Eth repeating fractual$

Here are two of my ideas I got from old fractals that worked almost perfectly.

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