Apparently, the uptrend is still in place, but there is a lot of fear in the air right now. This is the right enviroment to buy dips, and as you can see the support is holding for now (see green triangle and the dashed lines).
Technically speaking, I think the uptrend isn't ready to resume in full force, since we don't have sufficient time spent at these upper echelons (can't blame me for using the term :) ) to prove that there is re-accumulation before uptrend continuation as per the 'Time at mode' rules.
That being said, for as long as we're making 1 new high every 5 bars, we're technically in an uptrend, and for as long as the red dashed speed line holds, bulls are still present in this pair. For now, I reccomend holding ETH if you own any, if you were margin called out of your positions (like I was), sadly you're out with some loss. This brings me to the topic of leverage and crypto trading. If you consider the average these instruments have, paired with the exchanges' problems, right at the worst possible time, you can conclude that is better to just buy the coins with cash, withdraw from the exchange and wait to sell when your price targets are hit, which will force you to adopt smaller position sizes, and trade from a longer term perspective.
I hope you found this useful, I'll keep updating this chart once I see clear signs of the uptrend resuming.
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We'd need to wait one week to fully confirm if the uptrend can resume from here.
"Technical analysis will show you the market's reactions to the fundamental events. I agree time needs to pass. At least I'd need 1-2 weeks before I can safely long ETH again, and a few things would need to happen, as triggers, for me to take any position.
So, in a way, I'm responding to fundamentals, as observed in the market's reaction, and not my own personal interpretation. This is what technical analysis does for me.
The fact that we broke my technical uptrend support, means something fundamental changed and the perception of ETH is now negative. At one point, it'll turn around I think, because, the problem is with DAO and not ETH directly, and because the chart is set up in such a way, that it still makes it possible to expect uptrend continuation from here.
I'll update it as we go, for now, better stand aside."
P.S. I am noob at trading, but I am just trying to think that this situation needs time to play out. At least 27 days until the attackers could move coins or the forking will be implemented.