Ethereum Daily Dose 3/26/19 | Short-term pump, mid-term bearish?

27. März 2019

Even though Ethereum has bounced up about 5% from its recent low of $132.67 I am not convinced of this bounce just yet. I really like my potential long at $127 or a short at $154 for scalping. I am trying to limit my risk as much as possible because we’ve been in this range since February 24th. Today was a good short-term pump but I am not convinced we are entirely out of the bottom just yet. Even though this triangle can be considered an ascending triangle, technically it isn’t by $3 dollars. Maybe I am nitpicking here or I could be being too technical but if I am wrong then this formation is bullish. Either way, ETH has been trading within this triangle for months now and I am going to continue to use that as a foundation for my analysis and try to short the top and long the bottom of this formation.