ETH-3h. Sellers still have a chance for revenge.The weakness of the local trend of falling ETH prices from December 1 forced sellers to retreat to $ 530. The price did not reach the goal of our previous idea .
However, has the price correction been completed?
The local level noted in the previous idea was not broken.
The $600-620 price range stood.
Even the local range of $ 585-582 remained under the control of sellers. (from this range on December 8 began to fall to $ 530).
The current growth has taken place without any accumulation of buyers. We are generally silent against the trend line.
Local continuation of ETH growth is possible after fixing over $585. Otherwise, buyers will expect a better price.
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Ethfall
BTC DOWN, ETH DOWN, Will Daily 200EMA stop the fall? Hi guys,
Ok the last trade of mine didnt played out well so far..The power of Bears is huge. I am not much into deep fundamental analysis but I think that the panic on financial markets across the globe is obvious. It happens all the time over and over again throughout the years. The trigger of panic is everytime different but the results are similar.. High volatility is great for traders and Almost everytime in longterm big drops are followed by even bigger bullruns.. Indicies , crypto, gold.. everything.. For me is better buying into falling market and be temporarily in red than try to buy tops and jump into already accellerating markets.
So until the Eth dont close under the daily 200EMA I am not worried. If it will.. well.. than I shoul maybe consider getting out on some pullback. Try to zoom out and get the bigger picture.. I dont see many reasons to panic. We are still between 50% to 60% corrected from last top. 50%. Still chance for Eth to stay in mid term to long term bulltrend in my opinion.
Position type: Long
Entry Level: 230
Everything is just my opinion and my point of view. Maybe entirely wrong :)
It will be great to hear from you your opinion on the situation and what you see likely to happen in upcoming days/weeks
Wish you successfull trading!
See you in tomorrow update!
Mike