Which way will ETH go?
Last night, CPI came out in favor of cryptocurrency. The market turned green, looking bullish, but wait.
ETH is currently trading around its 1k3 resistance. BTC also showing dominance in the market at 41% and counting. There are 2 case scenarios for ETH:
📍 ETH breakout of the local resistance and going up to 1k6. We will enter Long at the backtesting point if there is a confirmed breakout.
📍 ETH tests the resistance and fails, going down to the 1k zone. IMO, this is the most convincing case. And I have entered a tiny SHORT position at market price, stop loss would be 1380. For more security, you can enter Short when this case is confirmed.
ETH is currently trading around its 1k3 resistance. BTC also showing dominance in the market at 41% and counting. There are 2 case scenarios for ETH:
📍 ETH breakout of the local resistance and going up to 1k6. We will enter Long at the backtesting point if there is a confirmed breakout.
📍 ETH tests the resistance and fails, going down to the 1k zone. IMO, this is the most convincing case. And I have entered a tiny SHORT position at market price, stop loss would be 1380. For more security, you can enter Short when this case is confirmed.
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