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Coin Calls: ETH Down Time

ETH, still some time to go down falling Bitcoin Drop


ETH is positively correlated to Bitcoin, as a result, the Bitcoin drop on Tuesday that saw 7.5% wipe off, has led to Ethereum to see consecutive red days. 

This saw ETH drop by close to 3% averagely everyday, last week we saw $480, today, we see $420. 

The recent drop and short term, temporary bounce is what is known as a dead cat bounce. 

This gives us some time to get in a further short as Nouvive recommends yet again. 

ETH will surpass and drop lower than the late June lows of $408, seeing the April Lows of $320, before setting its heights on $840. 

Enter Short 50%: $422

Enter Short 50%: $424

Take Profit 100%: $353

Profit: 12.5% Unleveraged. 

Stop Loss: $436

Risk: 12%

Time Line: 3 Weeks


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Bitcoin (BTC)
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