Ethereum trading cryptocurrency market update for Jun 17, 2019
Jun 18, 2019 --- Altcoins
It's been a rough few days in the Ethereum v’s Bitcoin market considering price broke below the 0.030 level yesterday leading to some follow-through down into the low-0.029's where price now resides, action which has sparked a series of red SCMR signals on primarily bearish candle formations that have confirmed bearish market structure and sparked new dynamic resistance immediately overhead. Also note that much stronger dynamic resistance continues to build, the EMA's have reversed back to the downside, the 100 and 200 SMA's remain in downtrends, the volume indications remain under pressure, and the Ichimoku Cloud is starting to grow more bearish out in front of the market, all pointing to lower prices moving forward (likely down to the 0.027 level where historical support comes into play once again).
Short term Members ProTrade - We have activated a small LONG position off of the 0.030 level with a stop around 0.0xx and a target of 0.0xx.
Medium term Members ProTrade - We will consider a LONG position on a selloff 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 0.00xx and a target of 0.xx.
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