biffbifford

ETH is following a downtrend and making higher lows!

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
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I do not have a position in ETH but feel we are at a very interesting point. I am posting this even though nothing from my previous analysis has changed just because I find this point in time very interesting for ETH. As long as we trade under the 50 DMA the outlook for ETH is BEARISH . Notice the downward trendline holding firm. No doubt there are sell and buy orders following that trendline . I think we say between $216 and $225 for the many more days. I am not at all sad to see ETH trading sideways as I feel it legitimizes itself as a currency and a store of value. I for one do not like seeing huge swings in my account as that knife cuts both ways, but if I can hold a stable crypto and use it to trade others cryptos where there is more action, I am fine with that! Good Luck!
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