Yesterday RED day for ETH against both USD and BTC.
Broke Key supports 260 USD and 0.1 BTC which confirms the bearish pressure.
Probably we'll see a fight in the 220s support level where the bulls must hold if they don't want the blood bath to be bigger than it is right now
The upper channel acting as a short term resistance around 275 and the next big one would be 300, but the bulls are not looking very strong right now.
The US jobs report strengthened the dollar against most cryptos.
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Great analysis! I also think the market is quite bearish and will test support levels. In fact, i recommend making money out of the market in a different way: https://steemit.com/bitcoin/@crypto-insider/bitcoin-will-collapse-this-july-make-money-out-of-it-usdusdusd
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thank you good analysis !
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I dont think the strong dollar affects the value of the coin as much as the massive selloffs post ICO. These ICOs are depressing the value of ETH (good for long term holders). I think the ICO market is going to crush certain investors while a small minority of investors will do extremely well. Ultimately, buying and holding ETH, especially about and around 225-250 will reap rewards for those with enough gusto to weather the "red days."
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Great opportunity to buy your favorite coins while everyone else is panicking. As Buffett says, "...be greedy when others are fearful."
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