ETHUSD 2 possible moves

28 Jul 2017

ETHUSD seems like a clingy pet. It keeps hugging the trendline.

Currently, it's undecided as to where to move next. This is because of the hacking news and all that scaling issue.

There are 2 possible scenarios:
1. It could retrace at .05 below the major support trendline and pullback up
2. It could enter into the supply zone and restock for a higher move up.

Best area to buy? It should be near the support trendline. Just wait for a huge volume confirmation and big price up.

For now, Ethereum's too quiet.

28 Jul 2017

Nota

Ethereum is forming a demand spring. The last candlestick is important. It could be a bearish fake out and suddenly buyers surge.

28 Jul 2017

Nota

wrong chart above. here's the correct chart

28 Jul 2017

Nota

watch for price action in current price level. we're at a critical decision point for ETH

28 Jul 2017

Nota

dumped big time -> see the long wick

but demand is strong enough to counter the down move

28 Jul 2017

Nota

Selling is triggered market-wide. Could probably be because of Bitcoin Cash.

People are selling altcoins to buy more bitcoin because by Aug 1, exchanges will give out FREE Bitcoin Cash tokens with a 1:1 conversion ratio.

28 Jul 2017

Nota

That Bitcoin Cash is just a diversion. Could move lower to 0.618 fib. But then again, now is a good time to buy while people are cashing out Ethereum to buy Bitcoin for free Bitcoin Cash. After August 1, Ethereum will pick up the pace and do some major moves.

28 Jul 2017

Nota

Probably the bottom for today

29 Jul 2017

Nota

Could still go lower if people keep selling ETH to buy BTC

30 Jul 2017

Nota

could go down again before the buying rush on August 1