pinkwojak
Short

Rats fleeing from a sinking ship: ETH to $500!

COINBASE:ETHUSD   Ethereum / Dollar
ETH will fall by a larger percentage than BTC             because many people bought ETH only because it was falling slower than BTC             (or at times even rising while BTC             was falling). Rats fleeing a sinking ship aren't reliable support; they will be the first ones to dump during a crash. This was confirmed by COINBASE:ETHBTC             falling rapidly after BTC             broke below 9k.

Given BTC             continues falling and breaks below the vital 8k support, we have our eyes on the $700 and $500 areas. Our two targets are chosen because they coincide with major Fib support levels, are major areas of support where price consolidation occurred, and because of their psychological significance.
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