Crypto markets, including ETH, are confirming a down scenario for BITSTAMP:ETHUSD by notalireza

Crypto markets are confirming the down scenario, and I HOPE I’m wrong because my investment portfolio is completely against this.
In this chart, I’m analyzing Ethereum but the same goes for any mainstream crypto ( dogecoin isn’t mainstream)

In the weekly chart, the trend is still to the downside and the 20-day MA has penetrated the 50-day MA to the downside. The MACD signal line, as well as the histogram, are bearish . on top of that, momentum is crazy bearish . the RSI is below 50 and stochastic is way down.

I keep on holding my crypto unless I see a bearish momentum that drives the price below 1600 dollars for ETH and in the same percentage range for other cryptos.

We have to be honest with ourselves, the markets are turning down so false hope and speculative decisions on very unique timeframes are just gambling. be honest with yourself and plan out your trades. Trust me, I’ve been burned, one too many times in trading.

I don’t really publish ideas much, but seeing a lot of people speculating a bull run in an obvious bearish momentum led me to publish this.

Let me know if you have any comments below.

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