Ethereum Trade Set Up
Updated
This wedge is traded the same as in other markets. We've seen massive runs in BitCoin and the associated AltCoins that follow it's price. This leaves us in an area of uncertainty.
We will be looking for a clear break in either direction before deciding on a bias. Upon break and retest an opportunity may present itself.
Fundamentally, Ethereum is a strong coin, with the 2nd highest market cap of all the coins. Second to BitCoin. So I do view this as a stable coin to trade. We have seen massive runs north(+380%) and price has begun to stall. So it is crucial that we wait for the price action signals to come to us.
*PSA* Cryptocurrencies are still in their adolescent years.
While on FOREX I do not consider fundamental analysis. It is my own personal belief that you should educate yourself on Blockchain, Cryptocurrency Mining, and the vision/direction each company sees itself heading.
We will be looking for a clear break in either direction before deciding on a bias. Upon break and retest an opportunity may present itself.
Fundamentally, Ethereum is a strong coin, with the 2nd highest market cap of all the coins. Second to BitCoin. So I do view this as a stable coin to trade. We have seen massive runs north(+380%) and price has begun to stall. So it is crucial that we wait for the price action signals to come to us.
*PSA* Cryptocurrencies are still in their adolescent years.
While on FOREX I do not consider fundamental analysis. It is my own personal belief that you should educate yourself on Blockchain, Cryptocurrency Mining, and the vision/direction each company sees itself heading.
Note
Break out short. Waiting for signals to sell.
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