ETHEREUM – Today's Rejection is Bad News
Ethereum / U.S. dollar BITSTAMP:ETHUSD
Ethereum has just been rejected at key resistance (2955) and things do not look good at the moment.
A further drop is most likely expected and we here have opened short positions with stop loss at 2960.
This is a bad indication for Altcoins altogether.
As usual, we remain Bullish on Bitcoin but the need to hedge and be short on some altcoins is crucial.
Do your own research, for us hedging has been working well, feel free to reach out for more details.
One Love,
the FXPROFESSOR
PS. In our view, many do the same things that Ethereum does. Thus we prefer to go short here while our BTC spot keeps growing and new Longs on BTC are attempted in a controlled way.
