YoJah

ETH poised to reverse bear trend within 24-48 hours?

COINBASE:ETHUSD   Ethereum / Dolar
Appears we have short term upward trend with higher highs and higher lows (and what was once resistance at $720-723 range is now support, whether that is weak or strong support we shall see later but for now it is confirmed support) as indicated by white dotted trend line on the one hour chart. and the current uptrend is appearing to go towards to retest purple long term bearish trend . Also appears that EMA 20 and EMA 50 are about to converge again, thus confirming another upward short trend. If ETH does approach that big purple long trend line (which I think it will at least once very soon) then three things can happen:

1. Violent bounce from trend line if not enough volume and back into a longer indecision stage or worse.
2. Brief passing of Bear Line and then back down to oblivion or consolidation stage.
3. Full reversal of long term trend and clear sailing to the moon :D.

Based on current events and whales dumping during the week my guess is that we are correcting back up to where we need to be which is a beginning of a long term trend reversal into a more long term bullish market. Either way, its going to be an exciting next day or two watching the markets, happy day trading everyone!! :D


Any thoughts, questions, comments, concerns, or short speeches please feel free to comment without reservation.
Dagangan aktif
Dagangan ditutup: hentian tercapai: Looks like we are kissing the ceiling, hopefully not a kiss goodbye. Still looking for the volume we need.
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