While the Bitcoin (BTC) price action is disappointing, there is a silver lining. The drop in Bitcoin (BTC) is providing a dip in Ethereum (ETH).
We drew resistance near 194 - 197, and that resistance held. Our new focus in Ethereum (ETH) is now at tactical support near 180. Any price dips below 185 could be a chance to add to long term holdings.
We may have to be more patient than we thought in Ethereum (ETH). We don't want to be dogmatic, but we are sticking to our theme that Ethereum (ETH) can lead the next rally higher...assuming there is one.
Bottom Line: If there's a problem in the crypto, it's with Bitcoin (BTC). Bitcoin (BTC) can not breakout above key technical resistance. Right now, that is providing a chance to do tactical dip-buying in Ethereum (ETH). Keep positions manageable, and use stops appropriate for you.
We drew resistance near 194 - 197, and that resistance held. Our new focus in Ethereum (ETH) is now at tactical support near 180. Any price dips below 185 could be a chance to add to long term holdings.
We may have to be more patient than we thought in Ethereum (ETH). We don't want to be dogmatic, but we are sticking to our theme that Ethereum (ETH) can lead the next rally higher...assuming there is one.
Bottom Line: If there's a problem in the crypto, it's with Bitcoin (BTC). Bitcoin (BTC) can not breakout above key technical resistance. Right now, that is providing a chance to do tactical dip-buying in Ethereum (ETH). Keep positions manageable, and use stops appropriate for you.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.