Ethereum trading cryptocurrency market update for Jul 29, 2019
Jul 30, 2019 --- Altcoins
Unfortunately for the Ether v's Bitcoin bulls, a CR cancellation of the reversal from late last week painted over the weekend on a red signal and bearish candle formation while short-term market structure remains uncertain and longer-term structure is still bearish, all pointing to more consolidation between 0.020 - 0.023 over the coming days but with a still intact bearish bias overall. The still falling SMA's, active dynamic resistance overhead, lackluster volume indications, and a bearish Ichimoku Cloud all confirm the longer-term bearish conditions, although decent momentum oscillators and demand area support below the market should keep price above 0.020 for the foreseeable future.
Short term Members ProTrade - No trade idea right now
Medium-term Members ProTrade - We will consider a small LONG position on a retracement 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 down to the 0.0xx - 0.0xx area with a stop around 0.0095 and a target of 0.xx.
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