In my opinion, BTC is king. All other crytpocurrencies following the path BTC takes, typically. While there is deviation from time to time, I feel this principal holds true. With the nice F$#@ Y$%^ wick on the hourly, which touched the TREND LINE and the 0.5FIB, I opened a SHORT at $245. Looking to take some profits around $233 (0.5FIB from swing low-high). If price breaks, I'll look for my next TP around the previous daily swing low around $217. Should price continue dropping, and subsequently if the H&S on the daily BTC charts holds true, I see price for ETH dropping significantly.
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Forgot to add, I set my SL at $244.5 ($1) below my entry. I like to add my position entry, SL, and TP to my ideas so that those that care follow what I post can hold me accountable. Win or lose I'll take responsibility for my trades.
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TP 1 hit. 20% of position closed.
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TP 2 hit. 10% of position closed.
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TP 3 waiting at $175