Hey Traders, London just opened and we got to know about ether, here we're looking at ETHUSD which made a recent low of 2018 and it's quit hard to tell weather it's ready to bullish but after determining certain factors we can make an estimate that Ethereum is now ready even for a small swing! so, Technicals are in favor we have 1. Dynamic Support (L1&L2) Confirmed, 2. Volatility Index is crossing M5 Bands 3. CMO is Oversold 4. Price Action - (Looks like it's ready for a reversal) 5. Support Trendline (exponential)
So, we'll Hold our positions now or you can wait for Daily candle to close above (In order to get confirmation) have any doubts? than, let us know in the comment section below and make sure to give this analysis a Thumbs UP +_+ Join our Telegram (link in BIO) Source - General public Information!
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After a consolidation phase(moving sideways) It perfectly bounced off completing 1/3rd of our Target ratios Now, at this point it's necessary to book some profits. next resistance phase at $600 (W200MA) (will update you once we exit or take half profits)
@elitebagholder, If anything they'll stop it here for a while. The only way they make cash is bringing it down and then pumping it up. Can't do one without the other
eddiqui
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I hope we see an actual bounce, but it doesn't look very promising.
It is hard to overlook these fundamentals especially in regard to ETH:
1) SEC is most likely going to regulate ETH, which contradicts the whole decentralization effort(s)
2) Too much "dumb money" got involved and got burnt or pushed out (not buying on credit anymore etc.)
3) Blockchain doesn't need us to continue drawing lines on charts to progress
@Giorgioversace,
Wonder when the whales will claim that the adverbial use of BTC pushes its value.
awsmax2
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any stop loss to add please?
and thanks for crypto signals :D
@BloomFisher
BloomFisher
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Hi @awsmax2, Not unless you'r trading on spreads/Fx.
it's a HOLD and Incase there is any cancellation we'll update you here on weather to close early or not!