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Eth $95 target and no end in sight for the bearish euphoria.

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SO over the last 49 days, about 1 million Ether has been mined.

~$200 million dollars worth. Did the world really get 200 million dollars of new value from it? Will we ever?

Probably not. All I can see is additional selling pressure.

THIS is what happened when someone dumped a measly 120k Ether in one hit.

[url= cdn-images-1.medium.com/max/2000/1*dufKdZVp7mC8dVbLQ6AMRg.gif] cdn-images-1.medium.com/max/2000/1*dufKdZVp7mC8dVbLQ6AMRg.gif

WHEN they tether pumped BTC to the moon the other day , eth only pumped 30 bucks on USD exchanges, that is bearish beyond belief. No one wants to spend REAL money for this.

LOOK at this.

Opening short after a monthly close below 200 would be a good, safe strat, I mean we should be buying support so only short if we genuinely lose it... I like a gamble tho and I'll probably miss the boat if I wait cause these moves happen so quickly sometimes. I'm biased enough to the downside to comfortably have a short open(i.e. it isn't stressing me out and I don't need to check a bazillion times a day). STOP at $226.

The bulls do have this in their favor so GJ if you've got the brass balls to long this and win.

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Here's a more refined strategy

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Wait for a crystal clear break of the inside bar and more critically, the daily support zone at $150, and that should reduce your risk significantly.

Shoutout to MrRenev for inspiration.

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Oh and we need to wait a few more days to confirm the inside bar. It looks very likely at this point.

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Well Eth broke down. However, shorts are getting dangerously close to "wait stop, fuck them let's squeeze" territory. Extremely risky I think to short around this area at the moment. Better to take profit.