What do you think is the chance of ETH breaking out of its current short term trend that has been forming since the ATH was achieved in the mid of june.
There is currently the chance for 4:1 long to short risk reward ratio. We expect the price to move towards $400 if the downtrend is breached and learn fairly quickly if not when the price moves below $190 with a new support around $160.
As such if we believe that ETH will break out with a likelihood above 25% this trade will be profitable.
We only have to make trades when we are confident, as such my suggestion is to pull the trigger if you think ETH will break out with a 40+% likelihood.
I am not so sure that is the case because bitcoin is in a very clear bear trend and I think the overall market forces may be more important than the individual coin.
Good luck!
Update: It looks like the uptrend has not held and as such this is not a viable opportunity any more. It looks now that ETH is going towards 100ish