ETH to correct before 1200 to 800 ~ 950

BITFINEX:ETHUSD   Ethereum / Dolar
ETH is temporarily overbought after breaking out the bullish pennant . Still, for its momentum to stop another ~$50 gain can be expected (& we'll get roughly AB=CD growth before & after the pennant ).

We're likely to experience a correction thereafter. Several supports are the weekly EMA (~950) and monthly (~800). I don't really expect it to even touch the trend line , as we're looking forward to switching to POS .

Probably a quick double bottom .
Komen: Correcting now
Is the correction finished or will it continue to go down?
DrJLT maxgen
@maxgen, you need to ask your crystal ball for that
believe this year, doc, you will see eth do what bitcoin did last year and defy 'gravity'
DrJLT qdoc
@qdoc, would be good. I have some :D
qdoc DrJLT
@DrJLT, yes doc i'm all about 'the bank of ethereum' now, any trades just to accumulate eth ;-)
DrJLT qdoc
@qdoc, I think NEO also very promising.
qdoc DrJLT
@DrJLT, the chinese ethereum ;-) yeah i think it's all about internet 2.0 now...
+1 Balas
DrJLT qdoc
@qdoc, NEO can handle 10k tx/s. Think about bit's unconfirmed :D
@DrJLT, shills like to say it's Roger Ver that's spamming them, but the point is he doesn't have to. It's a ten-year-old tech. Today's smart phones have more computing power than a 10 yrd workstation.
qdoc DrJLT
@DrJLT, yup. But as we have noted weird things going on with hashrates etc anyway. I just don't think the cashening is in the script either. Could be wrong of course. I think bch is like trump: the disruptor. Lots of hot air, lots of 'fire and fury' but ultimately not much will change. Ether on the other hand... And yes a neo vs ether may be next years script ;-)
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