ETHEREUM Daily Inside Bars Looking Bearish -- Bear Break Likely Soon
Ethereum signals aren't looking good -- or any crypto for that matter. We're seeing the daily look like it will break the daily support for holding candle closes. This level occurs at $270.
Bottom support now is at $260 and then $250. Resistance is heavy to the top and we are unlikely to see a break of $280 for a while. A break and close below $260 is going to set the price off tumbling again.
Even though ETH RSI is right near the 30 mark on the daily, BTC's daily RSI is at 46. If there's a pullback on BTC, it will tank ETH further, so this isn't an indicator we can really pay attention to at this moment.
Hope everyone has a great weekend. Stay safe, we're likely to see a bear break. If you're in a position, make sure to have your risk set with stops (or keep holding long term). If we see a huge spike and rally, I am not sure I'd really trust it right now. As such, I wouldn't have a buy stop set. Fakeouts are high right now like we saw a few days ago.
I'm off to Vegas here shortly for a bachelor party, so I'll post updates as I can. Have a great weekend all!
Thanks for posting this update , good stuff
i think everyone wait for higher prices but in fact you can hedge ethereum. there are always cryptos who perform better
hi @exxodus
Moment ago I came across your other post and I really liked it.
Just checked your profile just to realize that we seem to share a number of interests :)
In particular that we both share a similar passion towards cryptocurrencies and blockchain technology :)
Thx for that quite informative post. Keep up with creating interesting content.
I know it's hard at the beginning to build solid follower base. But just don't give up. Steemits needs solid content builders.
Cheers
Piotr