#ETHUSD - Continuing the bull run or retrace to 600?
ETH has developed well and exceeded the initial target of +88% as per my previous analysis below.
Indicators as follows:
- Stoch RSI is showing oversold condition
- CCI has bounced off the 0 line showing a strong bullish sign
- MACD has a slight bearish momentum following the pullback of the previous days
We still well above the T line on the cloud and we had a clean nice bounce.
A falling wedge helps us to identify our next target at breakout to around 850 dollars and then more likely higher.
Money is flowing nicely in ETH and the new scaling developments will help to push the price closer to 1000 dollars.
However if we break the wedge and the T line downwards we might see a retrace back to the 600 dollars area, but is unlikely at the moment.
Trade safe.
If this trade made you some money. Tips are welcome.
BTC: 372Yed5cnXoHN14a8sdwho7L5uYRxjYQYK
Indicators as follows:
- Stoch RSI is showing oversold condition
- CCI has bounced off the 0 line showing a strong bullish sign
- MACD has a slight bearish momentum following the pullback of the previous days
We still well above the T line on the cloud and we had a clean nice bounce.
A falling wedge helps us to identify our next target at breakout to around 850 dollars and then more likely higher.
Money is flowing nicely in ETH and the new scaling developments will help to push the price closer to 1000 dollars.
However if we break the wedge and the T line downwards we might see a retrace back to the 600 dollars area, but is unlikely at the moment.
Trade safe.
If this trade made you some money. Tips are welcome.
BTC: 372Yed5cnXoHN14a8sdwho7L5uYRxjYQYK
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