ETH - The Sun May Shine
ETH has broken the major downward channel that it has been stuck in for weeks, it is currently sitting at the last major trendline that indicates complete reversal.
Breaking this resistance would mean the bearish market has come to an end.
However this line will hold a lot of resistance, meaning that a downward continuation is still possible.
Like stated in the previous chart, ETH would need some great news, and massive increase in volume.
Well we have the volume, and possibly with the upcoming activation of segwit it has led buyers to push this market up.
What to do:
Watch this line closely. A move above it would likely mean the bearish trend has ended.
If it fails to break this line, it could lead to a great short opportunity.
Good luck to everyone!!
note: the trend line was placed with 1 day candlesticks, the chart is currently in 4 hr.
Breaking this resistance would mean the bearish market has come to an end.
However this line will hold a lot of resistance, meaning that a downward continuation is still possible.
Like stated in the previous chart, ETH would need some great news, and massive increase in volume.
Well we have the volume, and possibly with the upcoming activation of segwit it has led buyers to push this market up.
What to do:
Watch this line closely. A move above it would likely mean the bearish trend has ended.
If it fails to break this line, it could lead to a great short opportunity.
Good luck to everyone!!
note: the trend line was placed with 1 day candlesticks, the chart is currently in 4 hr.
Creator of DepthHouse Indicators on TradingView!
↣ depthhouse.com/
↣ depthhouse.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Creator of DepthHouse Indicators on TradingView!
↣ depthhouse.com/
↣ depthhouse.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.