Ethereum (Bitmex) clearly showing bullish signs throughout the past month. It will ultimately come down to the 'weekly' SAR point to either break at 150.10 (149.99 for Coinbase) to become super-bullish and run for the 'decade'-VWAP – or – only pushing off of the 'weekly' SAR series to become super-bearish. ETH is about to define a clear direction for the next two months.
Technical facts to note: by breaking the VWAP level, ETH will set itself up to crack the 200 mark once more. By failing to crack the 'weekly' SAR point, it'll set itself up to test support levels of 105. ETH is famously known to follow Bitcoin's movements, so you can mirror a similar directional analysis to BTC/USD for the time being.
This post will be updated continuously when mentionable changes can be observed.
Kommentera:
UPDATE #1: Likely to correct further towards 135-136
Kommentera:
This has likely been the bottom. Remember to watch out for a potential 'weekly' SAR point break.