The ethereum price has been under pressure of two moving average which are either the 55 and 200 moving average, ethereum went up in a short squeez because sellers were trying to push the price down, it has done a recovery of 50% percent from the sell off of the market that occurred on Thursday last week, this monday we have seen the price head down with a price target of $1700 or lower depending if bitcoin holds 30,000.
Ethereum breaking the $2180 price down only spells dangee for the ethereum price, well according to my technical analysis if the ethereum price continues to go down it has a price that of approximately $1700 but obviously you will not see the price just drop like that not because there is going to be short squeez that will be trying to cheat the market sellers but it will only be temporary but i have seen in some instance that bitcoin price starts to recover from a short squeez so you need to be careful that is why it is not good to put in any trade before you see a breakout from a pattern that has been developing which can be to the upside or the downside any way it all depends on the direction of the break out.
Now futures is not for any newbie but for professionals who know what they are doing because if trading futures you trade with leverage which could get you liquidated easily so you need to be careful.
My Thoughts On The Crypto Market
The crypto market lately has been crazy and heartless with the volatility price movement which is just a manipulation of price by the wales, I have see my portfolio go from a lot of money to no money which has caused me depression because i know that this bull market ending like this is just too early because history shows data that prove that the bull market has not ended but history could change anytime that is why i am scared, but the time is coming for the final judgement of whether we are in a bear market already or was this just a cool off and we will see the end of this bull market.
