The following is a short term trend analysis for ETH Ethereum as described in Trader Vic's "Methods of a Wall Street Master"
As of today, ETH has been able to establish higher lows and breakout of the triangle consolidation that began since FEB.
In order to establish the uptrend and break free from DEC started downtrend, ETH needs to close above 3400 zone, as this was the highest high prior to the lowest low (Black Horizontal Line).
Given a close above 3400 would imply much more upside, similar to what others are forecasting in equities as one final melt up before a significant crash / bear market to follow.
I'm awful at forecasting at trust the price action - an idea would be to start going long with significant adds once 3400 zone is re established and up trend is confirmed.
Failure to capture the uptrend implies the next leg down to sub 2000 zone... my bias is to the upside
As of today, ETH has been able to establish higher lows and breakout of the triangle consolidation that began since FEB.
In order to establish the uptrend and break free from DEC started downtrend, ETH needs to close above 3400 zone, as this was the highest high prior to the lowest low (Black Horizontal Line).
Given a close above 3400 would imply much more upside, similar to what others are forecasting in equities as one final melt up before a significant crash / bear market to follow.
I'm awful at forecasting at trust the price action - an idea would be to start going long with significant adds once 3400 zone is re established and up trend is confirmed.
Failure to capture the uptrend implies the next leg down to sub 2000 zone... my bias is to the upside