That May Be The Last Chance For Ethereum ETH/BTC
As of today, Ethereum
ETHBTC
made a full retracement of its last rally and is headed to lower levels.
Even though there are important supports along the way, 0.05 BTC looks like the last line of defense. After that a liquidity crisis may occur.
There are still teams that haven't sold ICO revenues yet. To protect their reserves they may start a fire sale and that can affect all altcoin markets.
As we're near an important support level I don't recommend you opening a Short position but if you already have a Short position don't close it yet. It has potential.
If you're a long biased investor, don't try to catch the bottom here. Wait patiently until the downtrend gets flat or reverses.
Most importantly, protect your capital!
ETHBTC
made a full retracement of its last rally and is headed to lower levels. Even though there are important supports along the way, 0.05 BTC looks like the last line of defense. After that a liquidity crisis may occur.
There are still teams that haven't sold ICO revenues yet. To protect their reserves they may start a fire sale and that can affect all altcoin markets.
As we're near an important support level I don't recommend you opening a Short position but if you already have a Short position don't close it yet. It has potential.
If you're a long biased investor, don't try to catch the bottom here. Wait patiently until the downtrend gets flat or reverses.
Most importantly, protect your capital!
Entry and exit signals are not universal in trading. They should be determined according to the trading method used. If your trading approach and my trading approach don't match, please do NOT consider them relevant for your own purposes.