We advised to GET READY TO long BTCUSD in Aug. 10th and then warned not to short it until it fall below 5700. Guess what? BTC and ETH both started rebounding now, the latter even tested 300 barrier again. Seriously? Are they really about to going up?

My answer is NO. We can see the rebounding of BTC and ETH are still weak if we compare it with the red candles in this downtrend. This is what we call it a dead cat jump. As a result, we still need to short them when they are up.

ETHUSD

We gave an tip to lower your stop loss to 300 which is your breakeven point. Now, if you have stopped out, you can short it again, with a stop loss at 310, targeting 230.

BTCUSD

We did give you a tip to get ready to long the BTCUSD but we didn’t catch it. Since the opportunity is gone now, we should short it when the uptrend is running out of its strength.

Technically, the resistance is at 6600,we can short it here and stop out at 7000 with a target at 5900.

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