Quick look at ETH midday on Wednesday

Hi all,

As commented yesterday, it was of great importance for the current setup to see how price reacts when hitting $235. So, it was rejected twice already in the last 24 hours, which makes the path towards $240 quite hard.
We are caught in the $240-$230 zone since Friday, but the daily chart pattern that is being formed starts to look a lot like a bear pennant. I would be careful with longs.
Cheers,