ETHUSD - Downtrend Confirmed, Short Position

COINBASE:ETHUSD   Ethereum / U.S. Dollar
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We are in a confirmed downtrend picked up by our Above Water Breakouts + Auto Trailing Stop Loss Indicator- Blue Overlay and our MACD Buy/Sell Overlay Indicator - Green and Red Price Overlay. Once we see these two indicator cross we know we are in for fast price drops. From the chart, you can see that we have broken above the descending top resistance line so it looks as if we are trying to gain back some bull momentum. Still to early in our opinion to go long so we are short at the moment. If we were to see the price move into a green overlay or move above the water we would then go long.

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This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
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