ETH Daily analysis 03-2-21 -plain and simple -

Mar 2, 2021

Back a week ago, such a configuration would have ended up bullish, as euphoria was taking over and driving price higher

even if all indicator were showing tops, over and over.

However, something smells bad on the current chart.

Is it the sluggish action, Indecision and too much confidence on the VIX ?

All together , it would all now depend on Bitcoin price action.

According to me, i would not be surprise if we suddenly drop to the 1360 resistance,

And there, we will have to see, if it's a buy or not.

I would not short anything, out of the question.

So waiting on the side line for an entry opportunity.

You want to remain a calm observer, with 0 emotions.

And remember, the market is a b..ch, trying to take the money right out of your pocket for a cheap and short moment of pleasure.

I would recommend to use 0 to 1/4 of your position on leverage, not more, right now.

See you all tomorrow, and don't forget to smash that like button !