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tcormier321
Jan 5, 2018 11:05 PM

Good time to take ETH Profits before next wave up Short

Ethereum / U.S. dollarBitstamp

Description

Looks like time for ETH to correct. Yes this is on a 1H timescale, but very clear H&S forming on the timescale. But visible on other timescales as well.

2H


3H


Throw in some RSI divergence and you can see the bulls are worn out on ETH.

Time to close your longs on ETH. Don't hope for more profit, but you can set stop orders around $1,050 so you don't miss the wave.

I would recommend moving a good bit over into BTC which seems to be rallying quite well as it drains alts of their value.

Let it cool off and look to get back in around $915 for the next push at 1k. Rarely do we break these big milestones on the first try in crypto.
Comments
samadamsSAO
I think LTC is the best place to put your money right now of the big three. Seems to be correlating beautifully with BTC but I agree with your ETH analysis
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