Searching for the next wave.Hello guys! So, ETH is bearish now, right? Actually, in my opinion, no. This seems to be just a sideway trend, and ETH is moving erratically between its supports and resistances, which is perfectly normal, after a bullish move, and that’s all.
As I said in my last analysis, I booked my profits yesterday, and now I’m just waiting for the next move. If you missed my previous analysis, the link to it is below, and I invite you to follow me to keep in touch, I’m every day here, and I’m sure you’ll find something you like in my analyses.
Now, as someone who’s out, just waiting for the next move, I’m disappointed by the low volume. This indicates that the price is still on “the sleep mode”, and we need to see more volume here to ETH wake up again. But until now, there’s no bullish or bearish sign, and ETH is not interesting at all to trade.
If you a hodler, that’s another history. I think most of you are hodlers, and in this case there’s nothing to worry. The short-term trend is sideways, but since March we are still bullish. Take a look at the weekly chart:
It seems the real fight here is between the 61.8% fib retracement and the 21 ema, so the price could drop back to the U$ 180 and that’s fine, no major changes or surprises. In any case, I’ll be here to keep you updated.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
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