thetradinghall

Turning short term neutral on ETH

KRAKEN:ETHUSD   Ethereum / U.S. Dollar
ETH has been largely laging BTC and other token in this past few week advance. The 180-190 zone proved to be a very strong zone to go through and now the token is being rejected. The break below 168.00 is a first negative signal and force us to adopt a neutral short term stance. We expect ETH to test soon previous low @ 155.00 and find support somewhere between 145 and 150.00 . Any trade below 144 is a red signal and negates our favorite elliott wave count.
Bigger picture, we keep a bullish view with more upside above 200.00. Time is now for a protected approach with tight stops on long positions.

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