Daily ETH Update

Oct 25, 2021

ETH has been trading in a range between $3900 and $4240 for five days now. All attempts by the bears to push it down below $3900 have been quickly dealt with by the bulls. I exited my positions in ETH on the 22nd after a sharp rejection from the all-time high. Normally I would have held the course and waited for further confirmation of the downtrend, however, BTC was looking like it was preparing for a bigger move down and I wanted to de-risk. In retrospect, it would have been better to hold. Risk management is like insurance....it costs you money and you only buy it hoping that you'll never need it. As I type this ETH on the 1hr chart is moving back into the upper supply zone. These a good chance of a breakout to the upside is near...