Short Term Holistic Bear
All in all, I'm bullish on ETH for the midterm and longterm. This last run, however, has gone up too quickly. I believe that ETH hadn't been suppressed at 300 USD, but instead it was a natural price where miners and traders agreed on prices. In the last few days miners have "raised" the price, so traders are probably barely catching up. This triggers a sharp increase in price, but it is probably overshooting. Indicators from TA are also pointing towards short term overbuying. When profit taking begins, we could see a move back down.
Remember that these price ranges are new, so we don't have a clear idea of what price resistances or supports will develop over the next few days. Be watchful and keep a close eye on BTC and BCH movements. The proposed entry is when/if price crosses 470 downwards. Otherwise this bear retrace might not take place.
Remember that these price ranges are new, so we don't have a clear idea of what price resistances or supports will develop over the next few days. Be watchful and keep a close eye on BTC and BCH movements. The proposed entry is when/if price crosses 470 downwards. Otherwise this bear retrace might not take place.
Note
It's hitting back down to 470…Note
With Bitcoin rising, we could see something interesting soon. ETH is reluctant to move up, and volume is dropping.Note
Finally.Note
Well, the target was hit on other exchanges. For now I think the retrace is being delayed. Other timeframes still beg for a drop to 380, but we still have to see.Trade closed: target reached
Got there a bit later than expected, but meh.Note
It turns out I cant delete posts, so I'll just spam a donation address. Send me your ETH here 0xF7Dc813B5c746F777DD29c94b7558ADE7577064e.
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