Once again, just when I said the bulls should react quickly, they do an impressive movement! It seems that complaining works! If you missed my last ETH analysis, the link to it is below. The red line and the dashed purple trendline truly supported the price as we discussed yesterday, and ETH defeated the black line with little effort, and completely ignored the blue line.
Now these lines are supports, as the 21 ema. Now it’s searching for new resistances, like the pink line or the green line near $210. Let’s look at the daily chart:
Yes, ETH is going up, and this is a good sign, but technically we are still in the middle of a consolidation, even the 21 ema is flat in the daily chart. The good news is that the trendline really seems to be a support. In my view, ETH is more bullish than bearish, but I wouldn’t buy it right now.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
Now these lines are supports, as the 21 ema. Now it’s searching for new resistances, like the pink line or the green line near $210. Let’s look at the daily chart:
Yes, ETH is going up, and this is a good sign, but technically we are still in the middle of a consolidation, even the 21 ema is flat in the daily chart. The good news is that the trendline really seems to be a support. In my view, ETH is more bullish than bearish, but I wouldn’t buy it right now.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
