Update on Ethereum. ETH-USD September 06, 2018September 10, 2018
We have entered the buy zone, slowly start to open the longs. We need to consider that all the market remains in the bearish phase and we can go down further. The deposit should be distributed up to the lowest psychological levels with adding to the position during every fall. 180 level for Ethereum most likely looks like the reversal level, it would be very difficult for the bears to make the price lower. If you have not closed the trade for some reason and now are in a negative balance, it is risky to close now, this fall has a very strong impulse on a short-term that gives a good chance for a small bounce (most probably it will be the “dead cat bounce” with the further fall). For those who have a patience, the best decision will be to wait for the further long-term growth, having a fall now (on the current levels) it’s ok to fall a bit more as the market is already is on the oversold condition and looking for the ground for the reverse. If to close the position now hoping to enter again on the lower levels we have a big risk not to catch the perfect entry point and try to catch the train may be at the same levels.