Hello Traders and Investors,
The markets are still taking a beating this year. We trade what we are given and not what we wish happen. Crypto was looking a little promising last week when we were rallying up. $1280 was the resistance ethereum needed to break to get back to 1600-1800. However, we are close to breaking the short uptrend and a clear ABCD move is shown. The D point is suggesting ETHUSD will go further down to $640. Until a lower low is in, this move isn't exactly certain yet.
I am waiting to see if a lower low will appear, if so, I'll be looking to enter a short.
The markets are still taking a beating this year. We trade what we are given and not what we wish happen. Crypto was looking a little promising last week when we were rallying up. $1280 was the resistance ethereum needed to break to get back to 1600-1800. However, we are close to breaking the short uptrend and a clear ABCD move is shown. The D point is suggesting ETHUSD will go further down to $640. Until a lower low is in, this move isn't exactly certain yet.
I am waiting to see if a lower low will appear, if so, I'll be looking to enter a short.