Things don't look very good for ethereum right now.
We had a bounce off of support but this bounce has been much weaker than I would have anticipated so I think we can reasonably expect a further move downwards. We could see a move up to a minor resistance located at 865.00. If we see some upwards movement I'd stay in my short position until we get past that. ADX is really starting to gain momentum and I think we will see a substantial drop. We don't have much support between here and 500 so I think there is a real possibility that the next move down will see a wick touch down at around 510.
While I like profiting on the shorts I think we are all ready to see the end of this carnage and get back into some longs.
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