Salaam
It seems ETH wants more retrace to calm down.
The crypto market total wants some more retrace to calm down.
Here is the road map step by step:
1- m30 EMA10 and 20 cross to bearish, the last 2 30m candles pullback to the 1680 key level that broke.
2- break 1570 support to the downside.
3- retrace to the last dips at 1370-50
4- Go some lower (If any momentum remains) to about 1250-1200.
If ETH goes to such a low place, it could get more momentum and high volatility, so it may be made very high down wicks.
But IMO 1200 area is the last station for bears.
I'm in sell and keep my eyes on 1720 as the stop area to m30 close.
And stay with bears until a clear bull market show.
I only try my best to keep alive till bulls begin their work.
I still think ETH will be above 2k till late February.
Good luck
*** RISK MANAGEMENT ***
It seems ETH wants more retrace to calm down.
The crypto market total wants some more retrace to calm down.
Here is the road map step by step:
1- m30 EMA10 and 20 cross to bearish, the last 2 30m candles pullback to the 1680 key level that broke.
2- break 1570 support to the downside.
3- retrace to the last dips at 1370-50
4- Go some lower (If any momentum remains) to about 1250-1200.
If ETH goes to such a low place, it could get more momentum and high volatility, so it may be made very high down wicks.
But IMO 1200 area is the last station for bears.
I'm in sell and keep my eyes on 1720 as the stop area to m30 close.
And stay with bears until a clear bull market show.
I only try my best to keep alive till bulls begin their work.
I still think ETH will be above 2k till late February.
Good luck
*** RISK MANAGEMENT ***