ETHUSD at critical point
ETH just got to a critical point.
The crossing of the long term 200-day WMA and the short term 50-day WMA can be very difficult to break. If it breaks with strong volume, it can be a very good sign of good things coming.
But I think the most probable outcome is that it gets rejected, at least this time. It is just the first try to break such resistance, so patience is key before changing to the long side.
In the past, cool down periods of crypto assets were quite long, so it still seems a bit too early. Additionally, there's still a lot of people in the space that needs to be wipe-out.
So, in overall, I am neutral at this point, neither long nor short.
In the mid-term I am rather pessimistic.
Good luck!
The crossing of the long term 200-day WMA and the short term 50-day WMA can be very difficult to break. If it breaks with strong volume, it can be a very good sign of good things coming.
But I think the most probable outcome is that it gets rejected, at least this time. It is just the first try to break such resistance, so patience is key before changing to the long side.
In the past, cool down periods of crypto assets were quite long, so it still seems a bit too early. Additionally, there's still a lot of people in the space that needs to be wipe-out.
So, in overall, I am neutral at this point, neither long nor short.
In the mid-term I am rather pessimistic.
Good luck!
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