Ethereum v’s Bitcoin has broken below the 0.028 level today on a red SCMR signal and bearish candle formation that has confirmed the bearish market structure, all pointing to lower prices moving forward thus confirming our forecast from yesterday. The falling moving averages, still active dynamic resistance, the lackluster momentum and volume indications, and the increasingly bearish Ichimoku Cloud are all in the same camp, so we see no reason to get long until prices drop even more, although the OTE long zone is now fully in play so buyers could start to emerge relatively soon.
Short term Members ProTrade - No trade idea right now
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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