Happy Friday! 🥳 I am sure all of you are excited to see what this first quarterly futures expiration will bring to the market 😁
Yesterday was an intense power struggle between hypesters and market news rendering all technical analysis useless. BTC showed up strong to lead the fight and had a massive dump handed to it. Overall alt-coins were performing better than BTC with everything ranging from ETH to XRP outperforming BTC. Back to ETH... At a macro level it is declining. Surprisingly, regardless of yesterday's dump, at micro level ETH is showing signs of recovery. Although truth to be told - it is very likely that TA will be out the window again with FOMO taking over the market.
One way or the other, BTC is at the centre of attention and will ultimately dictate the course of the whole market today. Internet is full of analysts and institutional investors who are threatening to exit their BTC positions and forecasting a massive decline. Some range from 20%-30% decline all the way to wild "dooms-day" type of forecasts of BTC losing 50% of its value this week 😱 Unfortunately, any larger BTC dips or dumps will affect the rest of the market, therefore ETH is expected to decline as well.
May the odds be with you shorting the market! 🎯
Today's technicals:
Position is Short
Forecasted hights at ETH $1650, $1700
Mid-way point at $1670 (That's right, this week ETH lost ~10% of its value and keeps dropping!)
Forecasted lows at $1580, $1550 and $1520
Have fun trading! 🤑
If you would like to get early access invite to DataMoney ETH technical analysis - write what would you do if you would make over 10% profit shorting ETH today! 💰
Yesterday was an intense power struggle between hypesters and market news rendering all technical analysis useless. BTC showed up strong to lead the fight and had a massive dump handed to it. Overall alt-coins were performing better than BTC with everything ranging from ETH to XRP outperforming BTC. Back to ETH... At a macro level it is declining. Surprisingly, regardless of yesterday's dump, at micro level ETH is showing signs of recovery. Although truth to be told - it is very likely that TA will be out the window again with FOMO taking over the market.
One way or the other, BTC is at the centre of attention and will ultimately dictate the course of the whole market today. Internet is full of analysts and institutional investors who are threatening to exit their BTC positions and forecasting a massive decline. Some range from 20%-30% decline all the way to wild "dooms-day" type of forecasts of BTC losing 50% of its value this week 😱 Unfortunately, any larger BTC dips or dumps will affect the rest of the market, therefore ETH is expected to decline as well.
May the odds be with you shorting the market! 🎯
Today's technicals:
Position is Short
Forecasted hights at ETH $1650, $1700
Mid-way point at $1670 (That's right, this week ETH lost ~10% of its value and keeps dropping!)
Forecasted lows at $1580, $1550 and $1520
Have fun trading! 🤑
If you would like to get early access invite to DataMoney ETH technical analysis - write what would you do if you would make over 10% profit shorting ETH today! 💰