ehzera
Panjang

ETH USD, The Bottom is In & Asc. Triangle Set-up

BITFINEX:ETHUSD   Ethereum / Dolar
After the massive correction from the previous few days, I'm fairly certain the bottom is in. With a nice set of bullish pin bars on various timeframes as well as volume confirmations, crypto has survived the bubble pop. On the BTC:USD side of things, in the hourly candle where we hit a low of 10.7k we saw a massive amount of buying power, where 19 thousand coins were bought in the hour. The last time we saw this many coins being bought was during the events of Bitcoin Cash             vs. Bitcoin             Round #1, at the bottom of the correction - 5.5k

If you have not already bought in at the ridiculously cheap prices, I would suggest waiting for a breakout of the ascending triangle shown here. I've also labelled key levels of resistance to watch out for.

A strong breach of the 763 levels brings us out and above of the 4h Kumo, and if we do so with confidence I'm certain we can hold on to our longs as ETH gets ready to reach for new highs.

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