$ETH/BTC - Poloniex Technical Analysis - Trading Idea #2, 25.06.2017

ETH looks top heavy with a bearish descending triangle
In my opinion this market is overvalued
I'm keeping my eyes on support for a short entry cause a breakdown could lead to a big dump
I set a couple of possible targets using the fib retracements
If the price drops we could see a cascade of panic selling from some ICOs that raised millions and didn't liquidate
Not shorting until we get a clean breakdown

Disclaimer:
Crypto Trading is risky business and you can loss partial or full amount of money. This Trade view is not a guarantee and only my personal speculation. Trade at your own risk with that money only you can afford. Bitcoin unexpected pump or dump will make this analysis void.