Analysis method - “Gann Swings + Price Action”
October 11, 2018
Ethereum slumped today under the nearest low, marking by that full domination of downward market over upward. At this moment support at the area 188.00 is being probed, afterwards the coin may drop even lower, in direction 163.39.
Local structure has clear bearish momentum. But last swing is so monumental and big, that it’s hard to imagine further movement without correction. It’s quite possible, that correction will run in the form of flat in the 188.00-200.00 range.
Main scenario: Flat in the 188.00-200.00 range.
Alternative scenario: Continuation of quotes’ fall in direction 163.39.
Short-trades from the 200.00 handle.