Shorting Ethereum is a bad idea in FEB / March
Here is why shorting #Ethereum is a bad idea
#ETH broke above 100 Day Moving Average for the first time in 272 days. 200 Day Moving average is the immediate upside target, current around 184 Area but moving down
The only topside resistance is a down-trend line around 150 that may hault the advances for some time, above that i dont see much resistance around the earlier Binance high of 159, with some efforts this high will easily give up
Expect Strong Support in 127-132 Area
Sorting for scalp is okay but dont expect this baby to go below 100 in Feb / March
#ETH broke above 100 Day Moving Average for the first time in 272 days. 200 Day Moving average is the immediate upside target, current around 184 Area but moving down
The only topside resistance is a down-trend line around 150 that may hault the advances for some time, above that i dont see much resistance around the earlier Binance high of 159, with some efforts this high will easily give up
Expect Strong Support in 127-132 Area
Sorting for scalp is okay but dont expect this baby to go below 100 in Feb / March
Twitter @tradingroomapp