ETH - STILL SOME DOWNWARD PRESSURE BUT CLOSE TO THE BUY AREAE
Hello, if even ethereum, the number 2 of the whole cryptospace is suffering, then it is straightforward to stay away from all altcoins. We are close to the end of the downward movement, but no clear sign of an inversion is displayed yet. However, I will do a general updates on alts as well.
We can see a H&S that is still in play, and the downward pressure is confirmed by the fact that the 200MA has been broken. The highest point for ETH was exactly at 0.04 (25eth per 1 btc) and the target for the H&S is exactly at 0.025 btc per 1 eth (40rth per 1btc). This is 10% far from the current prices. This does not mean than ETH will not grow in the short term, but simply that btc will grow more, or at least will perform better. The only coin that it is worth holding right now is BTC.
My accumulation zone is the green rectangle.
We can see a H&S that is still in play, and the downward pressure is confirmed by the fact that the 200MA has been broken. The highest point for ETH was exactly at 0.04 (25eth per 1 btc) and the target for the H&S is exactly at 0.025 btc per 1 eth (40rth per 1btc). This is 10% far from the current prices. This does not mean than ETH will not grow in the short term, but simply that btc will grow more, or at least will perform better. The only coin that it is worth holding right now is BTC.
My accumulation zone is the green rectangle.
Trade closed manually:
It bounced before touching the area. However, I like the engulfing candle that brought the price above both the MA and the 0.0283 support. I bought some
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