ETH has followed a path based on a new bearish channel found yesterday. In my opinion, $3950 is the most important fib to hold. This is not only a local golden major, but it is exactly where ETH broke out of a monthly Bullish Pennant. After years of using that trend line as resistance, would it not be fair to retest and confirm it as support? I apologize in advance to those who do not appreciate my charting methods. I am a channel trader. Good luck.
Trade active
Watching this bearish pennant / rising wedge
Trade closed: target reached
We are on track - the 3950 level must hold or it gets nasty 
Note
Lower purple held, upper purple must now be overtaken & turn to support, or more down IMO
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.