First off, please don't take anything I say seriously, or as financial advice. That being said, let us get into my insights. Looking at Fibonacci circles, there is a potential negative retracement back to a $155 price point, given that Ethereum looks like it could follow a small negative correlation wave. This is why I think, so likely it is best to shorten at $200 and see if there is a market dip. As it looks like it may potentially be tipping this positive correlation wave. A bearish trend could happen, so I'm not sure a long hold would maximize profits over other cryptos (Such as BTC).
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.