Ethereum: time for a healthy retrace
ETH UPDATE: After a green weekend and a heavily overextended ETH and BTC it is time for a healthy retrace to the 0.618 or 0.5 extension. With ETH breaking 3K there was some regained euphoria (from retail investors) in the market where the market saw high volume at these (local) peak prices. With the trading week starting tonight; I expect a retrace or a healthy correction for the majors; especially ETH & BTC.
Confirmation will come in the next 24 hours and it is to be seen whether we are in for a real correction or just a retrace. For now I keep it to a retrace. However we are at crucial resistance levels for the market that will determine if we are in a bull trap or in a full market reversal. For me personally, I do not take bets and bagged some nice profit on Ethereum. The coming week will show us direction - see link to the idea below for a market-wide updates.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
Confirmation will come in the next 24 hours and it is to be seen whether we are in for a real correction or just a retrace. For now I keep it to a retrace. However we are at crucial resistance levels for the market that will determine if we are in a bull trap or in a full market reversal. For me personally, I do not take bets and bagged some nice profit on Ethereum. The coming week will show us direction - see link to the idea below for a market-wide updates.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
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