Ethereum Rejected Off Of The 20 Day. Head And Shoulders In Tact. Target $1,262

[calvinweight]

Yesterday’s ETH close was bearish. Long spike to the 50 & 20 day sma and then closed for a red day. This makes the case for the bearish head and shoulders even stronger. Target still at the 200 week sma which is at $1,262. Bitcoin is hovering close to the bottom a close below $19,500 would be the lowest close in this 10 day bear situation we are in. I think we’re in for another spike down, but we’ll let the chart do its thing.

https://youtu.be/Uww-x_txLCg

[o48o]

Thanks for the technical analysis there. However as i am not trading with leverage i don't mind the price going up and down as i am in it for the long haul. Slowly Dollar Cost Averaging my way in. More it stays down more time and more money i have time to make that i can put in.

Eventually it rises again, and that will be something else totally. Eth2.0 is going to turn some heads when it's fully operational. It will also kill some "eth killers" from the market, and that will be glorious to see. While scams will remain on the market because no one ever learns anything, they will most likely be build on eth chain too as layer 2 projects.