Apologies for my terrible charting skills.
Trend lines are the downward trend from the ATH and key resistance and support areas for lower time frames.
I was shorting $ETHUSD as of lately but about 14 hours ago I realized how risky this was as of lately due to the fact that we were getting higher lows on larger timeframes. I took a long position at $2335, and now I'm just going to enjoy the ride. We'll have to see how well and if, we can cross $2550. If we can cross it in a short period of time then we are definitely bullish and I will hold my long position. If not, I will reassess and possibly short for the short-term.
Trend lines are the downward trend from the ATH and key resistance and support areas for lower time frames.
I was shorting $ETHUSD as of lately but about 14 hours ago I realized how risky this was as of lately due to the fact that we were getting higher lows on larger timeframes. I took a long position at $2335, and now I'm just going to enjoy the ride. We'll have to see how well and if, we can cross $2550. If we can cross it in a short period of time then we are definitely bullish and I will hold my long position. If not, I will reassess and possibly short for the short-term.