TheChartGuys

ETH Trying for Hourly Equilibrium

COINBASE:ETHUSD   Ethereum / Dollar
After the FUD dump last night we have seen a bounce, a top, and now the bulls look for a higher low on the hourly.
Personally traded the bounce twice on ETH last night, and just got filled 1/3 position 1155. Will look to add on a 5 min higher low.
The correlation still stands with BTC             where I am making my decisions on ETH based on what BTC             is doing.
Anticipating a lower high on the hourly and a tightening range into the rest of the morning.
We should see a clear break of this range this afternoon/evening on the East Coast.
Protect your trades! Getting stopped out, even for a small loss, allows for cash to play these bounces.
I took a small loss in LTC last night when the dump started, and made it back easily on the first bounce trade.
Remember FUD is a reason to be a bit more patient as RSI levels can get more extreme.
I think ETH will be in 1120 - 1280 for a while
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