ETH was denied a second time at the $328 mark last night. We also see bearish divergence on MACD and RSI. I think there is a chance we will see it fall back for a quick test of the black trend line around $300, although be sure to watch for action in the cloud as well. The trend line is strong though and there appears to be an ascending triangle forming on the 1D so I am looking for quick action here (making this suggestion a bit more risky). Stop loss could be set at $340 as that would indicate a break up in the ascending triangle and would be a clear buy signal.
Trade closed manually:
I don't think this trade is worth the risk anymore. As you can see I was proven wrong almost as soon as I posted, as ETH broke up to $332 and the MACD somehow got around my magic red line. I still think there is resistance at $340 and that this trade might still hold, it's just not worth missing out on us breaking that resistance.
Also, if you're a fan of Ethereum check out the Raiden Network Token, which just recently hit exchanges.
I don't think this trade is worth the risk anymore. As you can see I was proven wrong almost as soon as I posted, as ETH broke up to $332 and the MACD somehow got around my magic red line. I still think there is resistance at $340 and that this trade might still hold, it's just not worth missing out on us breaking that resistance.
Also, if you're a fan of Ethereum check out the Raiden Network Token, which just recently hit exchanges.