Analysis method - “Gann Swings + Price Action” June 14, 2018
Daily chart: Downward structure was enhanced by the next low yesterday, having been broken alongside the psychological support 450.00. An important pivot-level serves 502.74 handle, where new sell signals can emerge (watch the red arrow), or reasons for Ethereum recovery may be detected (in case of breakout higher, watch the black arrow).
H1: Local structure keeps downward mode, having been done the correction and stepped to the trending swing forming. Bears’ target is the nearest structure’s low (445.75, watch the red arrow). Bulls’ task is to break the closest high (497.42, watch the black arrow). Scenarios should be admitted as equipossible.
Main scenario: Continuation of decline in direction 445.75.
Alternative scenario: Breakout above 497.42 in direction 520.00-530.00.
Trading recommendations: Shorts from zone 490.00-497.42 with small stops in direction 445.75 and 440.00.