Remain Neutral. | 09 March 2018

Technical Observation

Yesterday, ETH shaded off almost 100% the value it gained earlier in the year, following the drastic drop witnessed December last year. The price is currently within my buyers area, and while price is here, I'm shifting my attention to long positions. My idea is that the price should bounce from $669.62, to give me a clear buy position with my first take profit at $936.86 and the next take profit at $1393.69. If the price can remain below $669.82, then I expect the price to plummet further towards $507.55 or lower. As it is, I remain neutral and wait for either a close above $669.62 or below it.

Trade Signal

Remain Neutral.