ETH outlook 20.08.2018

hourly

daily

In my last outlook I wrote:

So far we didn't see any bottom yet. As we see in the daily chart the break through 370 has to be seen very negatively. For a longer bullish time this level has to be retaken very soon.
So i guess it can't break through 320 and will fall again in direction of 250. There it should decide if this support can hold and bring ETH to higher levels again or not.

Todays outlook:
We didn't see any strong upmove. Instead it seems to be formed a small shs in the hourly Chart (altough in such a circumstance it shouldn't be overvalued).
So far 280 seems to be the make or break level. If it breaks 250 could be seen fast. So far this situation must be seen as the more possible one.

Alternatively a break above ~315 should bring ETH much higher.

Trade idea:
sell stop @280
target @250
stop loss @295
so risk/reward would be 1:3,3

Only my opinion.
Trade well