Ethereum, potentially difficult market ahead
Ethereum looks to be a mixed bag at the moment.
With the weekly 200 period moving upwards slightly, the overall outlook looks positive. However, the 4 hour and daily 200 period moving averages sloping downward as sharply as they are, it would seem to suggest that the market may still move lower before any strong upward price action becomes prevalent.
While the combinationation of moving averages suggest that the worst of the bear market, starting around November 14th, 2021, may be behind us, I'm not so sure as the larger economic picture of global inflation begins to take root. I personally believe a much deeper look at risk mitigation needs to be considered before entering the market.
Any level of trading must absolutely consider trend and momentum. Intelligent dollar cost averages is going to be the forefront of any stable and profitable trading. While the weekly still clearly shows upward movement in momentum, shorting the market is going to have much higher risks, espacially with the 1 hour 200 period moving average demonstrating a consolidation and indecision frequency.
With the weekly 200 period moving upwards slightly, the overall outlook looks positive. However, the 4 hour and daily 200 period moving averages sloping downward as sharply as they are, it would seem to suggest that the market may still move lower before any strong upward price action becomes prevalent.
While the combinationation of moving averages suggest that the worst of the bear market, starting around November 14th, 2021, may be behind us, I'm not so sure as the larger economic picture of global inflation begins to take root. I personally believe a much deeper look at risk mitigation needs to be considered before entering the market.
Any level of trading must absolutely consider trend and momentum. Intelligent dollar cost averages is going to be the forefront of any stable and profitable trading. While the weekly still clearly shows upward movement in momentum, shorting the market is going to have much higher risks, espacially with the 1 hour 200 period moving average demonstrating a consolidation and indecision frequency.