Ethereum Trade Signals
We all know momentum was pulled out of the Cryptocurrency market starting in November of 2017. But, there are plenty of opportunities to continue to profit within the industry. So, let’s take a close look at Ethereum at the weekly and a recent daily chart.
Traders Weekly Chart
As we notice when reviewing Ethereum chart below it remains in a weekly decline with strong downward momentum.
Traders Daily Chart
As we can see in the recent daily chart below, any trades countering the larger longterm weekly momentum should be reconsidered.
At a minimum, they should be assumed with an understanding that momentum may eventually turn a green light back to red and raise the risk level of a bullish countertrend trade. Although the bullish green lights up to July were successful, all were counter-trend rallies. Importantly, they eventually gave way to profitable long-term momentum red light shorts.
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