Ether trading cryptocurrency market update for May 20, 2019
May 20, 2019 --- Altcoins
Etherium v’s Bitcoin continues to retrace some of the large rally that we saw last week, which comes as no surprise given the amount of resistance in the 0.0xx area, thus breaking the longer-term moving averages to the downside again while the Ichimoku Cloud remains bearish, none of which is great news for the bulls moving forward. Having said that, SCMR signals remain bright green, candle formations aren't all that bad (especially the current one), the EMA's continue to rise, and the volume indications are looking much better, so we think there is a good chance that short-term buyers reemerge around the 0.0xx level.
Short term Members ProTrade - No new ProTrade at this time
Medium term Members ProTrade - We will consider a LONG position on a selloff back down to the 0.0xx - 0.0xx area with a stop around 0.0xx and a target of 0.0xx
Long term Members ProTrade - We will consider a LONG position on a move back down to the 0.0xx - 0.0xx area with a stop around 0.0xx and a target of 0.0xx
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