MACD isn't always a reliable indicator...
Updated
... but it's something to take into consideration.
A depressive Monday seems to be upon us, even though we've had some very good news over the weekend. It could be that the markets already priced the good news in with this latest run and don't have any more steam left to rally. Elon Musk planning on selling 10% of Tesla stocks next week, and his relatives and colleagues selling huge amounts of Tesla stocks, doesn't make things better.
Entering Ethereum at this level is very risky, and I would be very cautious. I am getting out of the market until next week show its true color.
According to the Greed & Fear Index, the stock market is Extremely Greedy, and the crypto market Greedy.
That being said, the market can stay irrational longer than you can stay solvent.
Good luck.
A depressive Monday seems to be upon us, even though we've had some very good news over the weekend. It could be that the markets already priced the good news in with this latest run and don't have any more steam left to rally. Elon Musk planning on selling 10% of Tesla stocks next week, and his relatives and colleagues selling huge amounts of Tesla stocks, doesn't make things better.
Entering Ethereum at this level is very risky, and I would be very cautious. I am getting out of the market until next week show its true color.
According to the Greed & Fear Index, the stock market is Extremely Greedy, and the crypto market Greedy.
That being said, the market can stay irrational longer than you can stay solvent.
Good luck.
Note
If next week proves to be yet another green week, I can definitely see Ethereum reach the 1.618 Fib level, which would be exactly $6000.Note
I had a feeling it was the top.
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