Daily Ethereum Forecast - Thursday June 22nd (#5) (US HOURS)

Further drops to Ethereum throughout the day yesterday have some people worried, is a breakdown on the way back to cheaper days? We are still not yet sure however we need to take this threat seriously and plan correctly.

If we delve a little deeper and look at the bigger picture we should be able to pull off some good trades even under these conditions but being careful is very important!

Today I am BEARISH on Ethereum. I believe that there is still further for the currency to drop before the bulls take hold for another ride up. The recent drop could start a ripple affect that is likely to amplify the movements taking Ethereum below $300. This is only short term - consolidation must take affect when we have seen such huge moves recently. It is only right to realize this.

An upswing could curtail any hopes of a cheap entry so staggering entries is very important. Pick the amount you want to invest and pick 3 or more levels to enter the market, starting gradual and getting bigger. This way you won't miss out on a good move but you will also not risk being wrong straight away!