Ethereum has been in a clear downtrend since June peak and fighting to hold two key Fibonacci levels the 127 to 141. Bitcoin dominance nearing 70% the alt-coin market has been struggling a lot during this consolidation phase.
My trade plan with ETH/USD:
I called a $324 ETH price back in March and I don't see any relief for this major cyrpto as the directional index and RSI signal bears are in full control. I will sit on the sidelines until there is more clear trend direction. ETH would need to either break above $241 or below $170 before any trade can be placed to go long or short. I still anticipate that a $101 price returning back to the Feb levels would complete this fractal.
I'm bullish on the crypto and even a return back to $101 would signal a higher low on the weekly and monthly charts when zoomed out.
Q4 2019 I anticipate the next parabolic move for crypto so stay patient.
Regards,
Bobby
My trade plan with ETH/USD:
I called a $324 ETH price back in March and I don't see any relief for this major cyrpto as the directional index and RSI signal bears are in full control. I will sit on the sidelines until there is more clear trend direction. ETH would need to either break above $241 or below $170 before any trade can be placed to go long or short. I still anticipate that a $101 price returning back to the Feb levels would complete this fractal.
I'm bullish on the crypto and even a return back to $101 would signal a higher low on the weekly and monthly charts when zoomed out.
Q4 2019 I anticipate the next parabolic move for crypto so stay patient.
Regards,
Bobby