Risk Vs. Reward just isn't there anymore. This is not a fundamental analysis of the projects\events coming up (specifically OKCOIN and Huobi listing ETH in the next few days), this is purely just a TA price chart and my "pulse" on the market. I'd be scaling out. I don't own any nor will I be shorting it, but these are just my overview thoughts.
For those who can, I think the time to short isn't far, especially with BTC's weakness here. Averaging up counter-trend is pretty damn risky though. Be careful if you do choose this route.
I can see a return to the $70's once this is all over. There and the $40's is a nice value entry for a position. These may take weeks or months to hit.
For those who can, I think the time to short isn't far, especially with BTC's weakness here. Averaging up counter-trend is pretty damn risky though. Be careful if you do choose this route.
I can see a return to the $70's once this is all over. There and the $40's is a nice value entry for a position. These may take weeks or months to hit.
Comment:
$120 real close now, capitulation is... either ongoing or about to happen. Still unclear, still freefalling. Bitcoin I think will judge whether we stop at $120 or go to $80's. Either way, anything down there is a phenomenal buy in the short\medium term.
Keep an eye on the market. This is gonna be a fun week.