Discussion for earning and trading Bitcoins, Litecoins, ETH, Neo and any other cryptocurrencies.
 #422  by greenpower
 Wed Sep 13, 2017 4:36 am
Technically, things are not looking great for the ETH/USD chart.
We are back to the 50% Fibonacci retracement and testing the $270.00 price for nothing less than the fourth or fifth time.
This is my "line in the sand". We need to stay above this and climb back above the 100 Daily Moving Average (the black line). If the close today is below both, then it could be a rather nasty fall back towards the $200 mark... and possibly further.
Blame China. Blame a stronger USD. Blame the bloke next to you.
I would "consider" taking some profits off the table now and looking to buy in at a lower rate if you really believe in Ethereum. I would hate for any of you to lose a large percentage of your profits, or even worse, lose money that you cannot afford to lose.