ETH/USD could be repeating itself - Bearish next 6 days
Have to see how this plays out but ETH/USD on the 2 hour chart looks to be a carbon copy of itself before the last retrace happened.
The Constantinople hard fork of Ethereum on Jan 16th may disrupt this - or maybe this is the last drop before that.
Overall the market is still bearish and shorting is the safest move currently.
The Constantinople hard fork of Ethereum on Jan 16th may disrupt this - or maybe this is the last drop before that.
Overall the market is still bearish and shorting is the safest move currently.
Trade active:
Entering a short position on Bitmex
Reasons: Repeated failure to break above 0.786, volume lowering for 4 days, downtrend, bear market + my TA matches.
Reasons: Repeated failure to break above 0.786, volume lowering for 4 days, downtrend, bear market + my TA matches.
Comment:
Created a version of this chart on the 1 hour chart:
Thought: ETH Constantinople update news could actually cause sharp sell offs if people have been accumulating, new buyers may panic sell before Jan 16th after it goes down by say $5-$10.