I see no reason to be long right now in ETH (AS A TRADER. This dump may not be worth selling if you're a long term holder). BTC.. I could convince myself. But definitely not ETH.
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Just an update. I am NOT planning on shorting, and I am not particularly bearish. I recognize if BTC trades higher, so will ETH, but I am more willing to place my bets on BTC right now because I am generally more cautious right now. If things go south, I will likely lose less invested in BTC as opposed to Ether. So this is not a sell recommendation per se, if anything it is a buy at the 540 level. This is more of a I see very little clarity to be long here. I could be misreading the chart - it wouldn't be the first time.
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if 540 doesn't hold, 420 is next
