Ethereum just broke the critical $285 support after being tested three times, all previous times showing huge rejection at this level. ETH now touched to the $280 level. However, volumes are increasing and Papa BTC is on the move lower as well. I expect this level won't hold overnight and there will be a look to the $275 level to hold.
ETH is closing out the right shoulder of a head and shoulders reversal pattern and is making closes below the neck line on all charts. This is a huge indicator that a larger pullback is in store and the bears might be in control for a little while as we look to form a new base of support.
