Ethereum: Don't Buy at Tops
In this chart, you can see at least 3 reasons why I don't trust in a possible upward movement without correction to the key support zones.
We had the same upward movement in the past when the market became overbought. MACD lines and RSI confirmed reversals. The price dropped after that, and we got trend reversal signals.
Now, I don't think that we will see a real trend reversal as there are fundamental reasons for it. But a correction movement to 300USD and MAs, why not?
Those who are going to buy at the local top, look at the previous tops. Will you be happy to stay with long positions in the bearish market for months?
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
We had the same upward movement in the past when the market became overbought. MACD lines and RSI confirmed reversals. The price dropped after that, and we got trend reversal signals.
Now, I don't think that we will see a real trend reversal as there are fundamental reasons for it. But a correction movement to 300USD and MAs, why not?
Those who are going to buy at the local top, look at the previous tops. Will you be happy to stay with long positions in the bearish market for months?
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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