What initially we viewed as a winning strategy is quickly turning into a runaway opportunity. We correctly identified a bottom last week, however, since then the price action dashed off without forming a clear bullish signal.
ETHUSDT, 45-min Chart, Actuals
At his point, it is dangerous to enter any leveraged trades, keeping in mind that we expect further declines in the US Stocks, Gold and Silver.
Next Week Outlook
Based on the above and despite the nice and crispy chart below, we will not be acting aggressively in the market until either of the two happens
the market falls back and allows us to enter longs (in form of a clear setup);
the market continues to go up signalling coming acceleration.
In the second case, we are likely to go with unleveraged positions in crypto.