It's make or break on Ethereum. The structure created was an ascending triangle, butting up against all time high resistance. It certainly is not a value area to be buying.
Ethereum is running out of room, and currently dropping below the ascending triangle demand line, although minor. A trader may play the measured move up or down. Probably the best play is to be long volatility. Most likely, Bitcoin will be the judge and jury of ETH's move.
Speaking of BTC, things don't look good for a trade. The Elon Musk tweet was not enough to sustain prices for a confirmed breakout, which is worrying. I would not be surprised if BTC broke below 30k in time.
If the SPX keeps selling off on Monday, the party could be over and the cash grab beginning with the strange market we currently find ourselves in.
Ethereum is running out of room, and currently dropping below the ascending triangle demand line, although minor. A trader may play the measured move up or down. Probably the best play is to be long volatility. Most likely, Bitcoin will be the judge and jury of ETH's move.
Speaking of BTC, things don't look good for a trade. The Elon Musk tweet was not enough to sustain prices for a confirmed breakout, which is worrying. I would not be surprised if BTC broke below 30k in time.
If the SPX keeps selling off on Monday, the party could be over and the cash grab beginning with the strange market we currently find ourselves in.