ETH bad fundamentals (can`t scale ,high gas fees etc) finally meet price and went down to 3150usd .It was my second target (established back in mid November)
Unlike BTC or HEX ,this thing is hard to trade .It is all over the place.
And once again we get mixed signals:
1.daily candle under BB lower line ,signaling the begining of a STRONG bearish trend-bearish!
2.daily 21 EMA sloping down -bearish!
3.price is resting at support (never short a support)-bullish!
4.ADX is quite extended it will stall soon-bullish
5.DMI bull line is at 10 ,usually a strong reversal mark-bullish!
6.Fear and greed almost at historical low...bullish!
7.Bitmex funding rate deep into negative ... bullish!
Conclusion: LONG with Stop LOSS @ 2800
Limit buy at 2850-2950 to catch a wick ,SL still @2800
I would not short crypto at this moment, as some of the indicators are quite beaten and prices are ready for a bounce
Unlike BTC or HEX ,this thing is hard to trade .It is all over the place.
And once again we get mixed signals:
1.daily candle under BB lower line ,signaling the begining of a STRONG bearish trend-bearish!
2.daily 21 EMA sloping down -bearish!
3.price is resting at support (never short a support)-bullish!
4.ADX is quite extended it will stall soon-bullish
5.DMI bull line is at 10 ,usually a strong reversal mark-bullish!
6.Fear and greed almost at historical low...bullish!
7.Bitmex funding rate deep into negative ... bullish!
Conclusion: LONG with Stop LOSS @ 2800
Limit buy at 2850-2950 to catch a wick ,SL still @2800
I would not short crypto at this moment, as some of the indicators are quite beaten and prices are ready for a bounce