jamiecassels
Short

SHORT ETHBTC Bears firmly in control

POLONIEX:ETHBTC   Ethereum / Bitcoin
Technicals align with fundamentals here as China's policy change against ICO's in theory should hurt ETH more than BTC . We see price in a downward wedge and looks to be flagging for the next leg down. I think a 3 Day chart shows the weak bounces off .07 the best, but I don't have that available on TV. It seems .05 is our best bet for a target where we see a temporary blowoff bottom out of our wedge . RSI and Stochastic can't break above 40 which supports our guess of further losses, and DI- is in an uptrend while the ADX trendline is reasonably high and looks to be expanding further. Best of luck.
I would not be shorting anymore on a tripple bottom daily. Although, your 4 hour is ok, the daily stoch rsi says its oversold and that should overrule it. I would expect a dip, then climb above .077 at least.
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It broke thru the red lines - is this still valid? Thanks!
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Bear trend broken?
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@sgemini, There was no bear trend it was fake.
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