Well, it initially looked like there might have been a glimmer of hope for the cryptos and Ethereum in the shorter term. Prices rejected from the downward trend line and saw all supports from previous higher lows breaking. Now, we broke all of the lowest higher lows and are facing back down at $875 and $771 supports. These supports will get tested. The selloff is not over. There's still tons of FUD in the market. The best way to capitalize now is to wait for the good positions and pick the supports you want to come in at and hope for an oversold bounce.
Short term charts show volumes tapering off, meaning consolidation is trying to complete before the bears step back in and push prices lower to test supports.
Bitcoin is back looking a little longer at the $9k and $8k supports.
Stay safe. Happy trading!
thanks for the great info brother. keep updating.
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much appreciated! thanks @sandeepp!
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Why it's still FUD in market? Last day looks like will go up again. So?
Thank you,
Irina V.
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FUD is like trends. They stick until something major changes it. Down trends make a lot more FUD and panic. FUD isn't only created by one single news event and then it's over and back to GOS (greed optimism speculation).....FUD in bear market sticks until something big happens. We haven't even started to reverse a trend yet, so FUD is still sticking. Plus, this is also when the media and articles start talking about how bubble is popping, markets are tanking, etc...perpetuates that FUD!
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