AlefBit

ETH short term cycles signal upcoming downtrend

Short
BITFINEX:ETHUSD   Ethereum / U.S. Dollar
In our last newsletter we called a bottom in BTC price and an end to the bear market.
We believe that we are now entering a consolidation period with sideways price movement.

We identified short term cycles around the 15 days MA, of approximately 25 days periods of uptrend and downtrend.

Our chart shows that the recent uptrend has ended and we are now heading down with a possible price target of $115, forming another higher low.

Bitfinex extremely high long/short ratio provides confirmation for upcoming price decrease.

For more analysis, check out our website: https://www.alefbitech.com/

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