ivogruev
Long

Ether is bullish again

KRAKEN:ETHUSD   ETHUSD
169 0 1
The best stance for a technical analyst is to have none bias before a major news. The hard fork was such event that could present big surprises. Fortunately two days after the hard fork the facts shown on the chart are quite bullish . First we have a clear ABC pattern as correction since June 16 and second the price is forming an accelerating up trend. How high the price might go? If the resistance at $16 level is broken then we can expect a test of the historical top. If the trend keeps the recent momentum this scenario might unfold within several weeks. A breach below 10.92 will neglect the scenario for a sharp rise and I will have to reassess the situation.
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