Long

ETH remains in this channel!

Updated

Ether has remained in this channel from the last idea I posted quite nicely. You can see that the area we needed to hold, in fact held quite well. However, it's been grinding to the upside whereas bitcoin has really had a substantial move to the upside. RSI and MACD aren't telling us much at this point. However the ETH/BTC cross is very low and oversold. I would imagine that will support upwards movement and more grinding to the upside as this thing continues on.

Watch this channel, if we break the channel to the downside that would be bad news bears. Otherwise, we should slowly continue higher.

-Sherem

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Previous idea:

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POP! Up we go

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and FYI, my short term target is 220. Ultimately i expect we get to 450-500 area before a deep pull back.

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Guys, we break above this channel and we are going to 300 really quick.

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update:

Just how high can ETH go? That question, answered.

Sherem

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