ETH broke up the H&S neckline which is BULLISH. This is very good for the overall market and especially alts which have made some nice gains since.
Now we seem to consolidate and re-test this neckline breakout. Once that is completed I'd expect us to move higher towards $1,800 where we have our next significant resistance.
Question is - will we pass this level?
Looking at the daily indicators, ETH seems ready to explode soon. StochRSI is moving nicely higher, RSI the same and MACD is about to do a positive cross on daily... NICE. Once this takes place, then momentum will be on the bulls side and with a bit of volume as we break the $1,800 resistance, we should be right back to 2k and ready to rocket above it.
I am bullish biased for that reason, I think this correction is over and at worst, we will get more consolidation, but I do not see us making new lows... nope.
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Got in at 1675 by foolishly taking advice from 2 really popular posters who said a close at 1650 or going past 1675 would confirm. I guess it’s a guessing game.