MarcPMarkets

ETHUSD: No Retrace? No Trade. Waiting For Better Setups.

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
ETHUSD             update: Indecisive price action around a potential lower high formation. Since price has not taken out the 625 resistance level , I have no choice but to expect more from the bear side.

As I wrote in my ETH article on S.C. earlier today, 625 is the .382 area of the current bearish structure. As long as price stays below this level, it is more likely to consolidate or test lower prices.

Long term, I am bullish on this market as well as the other major coins. It is at times like this when it is important to also recognize the short term price action since it is very helpful for staying out of trouble.

Based on the current structure, there is no reason to do anything at these levels. I am not going to add to any long term inventory, or take any short term trades. Like I wrote earlier, there is no advantage to taking any risk at these levels. I do not short these markets, so I can only consider risk from the long side.

At S.C., we are waiting to see IF these markets choose to retest the lows. The high probability level for us is the low 500's into the 471 reversal zone boundary. Remember, we do not know if price will retest this area, but we are prepared if the opportunity materializes. We don't predict, we play probabilities.

In summary, quiet times in the market are great times to prepare. Research other coins, check out our portfolios at S.C. and see how we are building inventory. When the market offers more attractive prices, we are prepared with a plan. What is your plan?
Marc Principato, CMT |Author: Analyze Any Financial Market Like The Pros Using Price Action| http://www.Priceactiontraders.net | Cofounder http://www.seekingcryptos.com (S.C.)





analyzed from EW perspective
please share your views on this :)
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Especially on weekends I'm not buying. We had those "bart patterns" all over, high volume spike up - low volume sideways - high volume spike down. Overall liquidity on big exchanges hasn't been that low since late September. I'm pretty sure big players are currently building positions, but I'm not bullish until that downtrend reverses.
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my plan is quite similar.

one ICO I am into and of which I HODL a small number of coins is the Cyber Smart Coin (CBST), which is having a Token Giveaway.

Cyber Smart Coin (CBST) is a crypto currency that uses Deep Learning + Artificial Intelligence in combination, to improve smart Trading bots with disruptive Blockchain technology.

The system is built to deliver very reasonable, even strong Monthly Dividends. If you are interested in Trading related crypto coins, this is a great coin even at regular prices.

Right now, you can get Cyber Smart Coins at very reasonable rates during their current ICO.

And, if you Register for tokens from now through June 3, you will receive 150 coin Giveaway from Cyber Smart Coin :)

You can learn more about the CBST Tokens here:
https://cybersmartcoin.com

You can also read the details of a great use case of the Cyber Smart Coin at https://cybersmartdefence.com The software solution uses the CBST coin to empower and increase the utility and value of its innovative blockchain-driven cybersecurity system.
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imartin_1883 stepstones
@stepstones, Thats the worst marketing ever I've seen on coins. Thanks for sharing what scam not to buy.
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stepstones imartin_1883
@imartin_1883, thanks for your reply, however misplaced it is. i was mentioning an altcoin that i find interesting and currently hold some coin. i am very up-front about that so that there are no questions about my interest.

i think now is a great time to pick up some great undervalued alt coins, precisely because the overall cryptocurrency market is at a steep discount compared to the high prices the market saw in December and January.


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You're a real Pro Marc - thanks for sharing this !
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Thanky you for the guidance
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