Ethereum has failed us at $1000 and has consolidate below after rejecting the 20 MA on the 4hr chart.
We now have a lot of bearish signals from both candlestick patterns as well as the indicators.
As we mentioned last week Ethereum was correcting but still bullish above $1000, not that support has failed and we will look towards lower prices to jump into the market again.
At the moment $900 is acting as very short term support, but will surely break if this momentum continues.
It is very dangerous to call bottoms in crypto markets, those that wish to play “catch the knife”, could be wise to stack buy orders in the $600 – $800 zones.
If we see some decent increase in trading volume we might get the bounce from the $800 – $950 zone, but this is High Risk zone and I would advise you to manage your capital and your Risk/Reward accordingly.
At this point the bulls need to capture $1100 if ETH is going to recapture its bullish momentum.