aboveandphom

Ethereum Daily Dose 3/26/19 | Short-term pump, mid-term bearish?

BITFINEX:ETHUSD   Ethereum
Even though Ethereum has bounced up about 5% from its recent low of $132.67 I am not convinced of this bounce just yet. I really like my potential long at $127 or a short at $154 for scalping. I am trying to limit my risk as much as possible because we’ve been in this range since February 24th. Today was a good short-term pump but I am not convinced we are entirely out of the bottom just yet. Even though this triangle can be considered an ascending triangle, technically it isn’t by $3 dollars. Maybe I am nitpicking here or I could be being too technical but if I am wrong then this formation is bullish. Either way, ETH has been trading within this triangle for months now and I am going to continue to use that as a foundation for my analysis and try to short the top and long the bottom of this formation.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.