12/01/2019/11:00CET
Now with our BTC trade closed with a modest gain, let's go on the hunt for potential new setups.

Ether

Daily chart...

• From the recent low of 83usd we had a sharp rally to 167usd - almost a 100% gain.
• In the last 3 days we have retraced 50% of that
• Any observant trader would have seen the potential for resistance at the 100dma (orange)
• We are retracing back to the 50dma (green)
• And we have already dropped below the 21edma (blue). This is the momentum indicator. (to be fair, this indicator has turned down which is not positive)

2 possible scenarios:

• retest and bounce off the 50dma. This move will be confirmed by a break upwards past the 21edma.
• retest of the lows at 80usd, and then a bounce rally. This move will be confirmed when it break upwards past the 21edma.

Then there is always the chance for a deeper bust :-(

As always guys, leave comments, have fun and trade safe.

Disclaimer: This post is not financial advice. Before investing any funds do your own research and make your own decisions. Cryptocurrencies are highly speculative.
And finally: Do not invest money you are not comfortable losing.