Finding Mr. Bottom, looking at ETH
Hi guys,
So I have had a look at BTC, link below, to address the question in my mind and maybe others out there too, are we at the bottom? and while BTC to me is a bit unclear, I'm looking at the ETH, the second most dominant chain with (~22% share of the crypto world).
As you can see, we are technically currently at 22 Dec 2017 levels, the nearest level that has supported prices and just under the 200 Day EMA. My belief is that if we are to get some stability in the next few days over the 200 DEMA and not a breakdown/violent reaction after the SEC and CFTC hearing tomorrow, then there is hope for the end of this 40 days of hell in crypto.
Rapid up movements are also not a healthy sign, as a trap may form. I think the prices need to 'breathe' for a few days at least, something that has been against the nature of this asset in the recent past but at this point its a much needed prescription.
***Disclaimer***
- This information is not a recommendation to buy or sell.
- I am not a pro trader, but someone learning technical analysis , as i go along, constructive criticism and positive feedback is most welcome :)
So I have had a look at BTC, link below, to address the question in my mind and maybe others out there too, are we at the bottom? and while BTC to me is a bit unclear, I'm looking at the ETH, the second most dominant chain with (~22% share of the crypto world).
As you can see, we are technically currently at 22 Dec 2017 levels, the nearest level that has supported prices and just under the 200 Day EMA. My belief is that if we are to get some stability in the next few days over the 200 DEMA and not a breakdown/violent reaction after the SEC and CFTC hearing tomorrow, then there is hope for the end of this 40 days of hell in crypto.
Rapid up movements are also not a healthy sign, as a trap may form. I think the prices need to 'breathe' for a few days at least, something that has been against the nature of this asset in the recent past but at this point its a much needed prescription.
***Disclaimer***
- This information is not a recommendation to buy or sell.
- I am not a pro trader, but someone learning technical analysis , as i go along, constructive criticism and positive feedback is most welcome :)
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