Ethereum could be at the tip of huge decline. From the chart, we can see that it has been in the downtrend channel (light blue) since early this year. And it is currently touching the long term support zone (green).
If ETH is able to break the downtrend channel (light blue) at around 174.8 level, we could see potential reversal and momentum from buyers may push the price higher. However, if ETH broke the long term support zone, price could be go into free fall. The sell momentum in the past 2 weeks is still very strong. If ETH doesn't hold at this support zone, prepare for the heavy decline.
Lazy Trend System still indicate a downtrend with no sign of reversal. All indicators are pointing South.
This week plan:
I will continue to look for shorting opportunities at lower timeframes: H1 and M5.
If ETH is able to break the downtrend channel (light blue) at around 174.8 level, we could see potential reversal and momentum from buyers may push the price higher. However, if ETH broke the long term support zone, price could be go into free fall. The sell momentum in the past 2 weeks is still very strong. If ETH doesn't hold at this support zone, prepare for the heavy decline.
Lazy Trend System still indicate a downtrend with no sign of reversal. All indicators are pointing South.
This week plan:
I will continue to look for shorting opportunities at lower timeframes: H1 and M5.
Trade active:
2 Quick Short trades this morning when Lazy Trend System indicated sell momentum.
Both were closed in profits, up 5% so far.
Downtrend is still persist, will continue to look for shorting opportunities.
2 Quick Short trades this morning when Lazy Trend System indicated sell momentum.
Both were closed in profits, up 5% so far.
Downtrend is still persist, will continue to look for shorting opportunities.
