ETH/USD broke down from this bearish pennant / asymmetrical triangle earlier today and looks poised for another 10% + drop.
I anticipate ETH will make new yearly lows over the coming days, and as we approach the new year.
I'm currently in a leveraged short position on ETH that I'm gradually taking profit on as price continues to drop further and further, alongside this I've also been scaling into a long term position in increments at key support areas.
I will be looking to scale into my medium to long term position within the green accumulation zones provided, I will also be looking to long scalp around these key support areas for quick profit.
Overall, I think the downwards momentum will continue as we transition into a new year, it's best to be in both a short and long term position with some capital aside for scalping positions until we have settled into 2019.
I anticipate ETH will make new yearly lows over the coming days, and as we approach the new year.
I'm currently in a leveraged short position on ETH that I'm gradually taking profit on as price continues to drop further and further, alongside this I've also been scaling into a long term position in increments at key support areas.
I will be looking to scale into my medium to long term position within the green accumulation zones provided, I will also be looking to long scalp around these key support areas for quick profit.
Overall, I think the downwards momentum will continue as we transition into a new year, it's best to be in both a short and long term position with some capital aside for scalping positions until we have settled into 2019.