Ethereum recovers quickly - Where your stop loss needs to be

Friday's crypto crash recovered almost as fast with BTD traders bringing many coins, especially Ethereum, back up to the prior crash range. The crash bar should not be discounted as a fluke by any means. It sets up a clear defining line in price action going forward. Where price went to, stopped, and reversed quickly is the clear support. Breaking the low of the crash bar is very bad for the long term trend. So long as 3400 holds it is fine to be a remain optimistic about the "next bull run". Breaking this level, however, should rightfully challenge one's long term prospects and encourage them to apply good risk management.

Simply put: if the low is broken... the party's over for this cycle.

I remain short ETHUSD