ETHUSD: The significance of the 2018 trendlines. Buy Opportunity

ETHUSD has hit a major trend-line set by the last Lower Low before the Bottom of the 2018 Bear Cycle. This cellular level has proved to be a major trend-shift mechanism through-out 2019 and the start of the new Bull Cycle.

More specifically is has turned into a Resistance twice early in 2019 before the major April bullish break out. The Lower Lows of the 2018 Bear Cycle in general seem to be behaving this way. The Lower Low before that provided the last Resistance level that ended (or rather paused) the current 2019 uptrend. It is therefore quite obvious that these Lower Low levels will provide key Resistance and Support trend lines in this new Bull Cycle.

We will make sure that those are used as profit taking (Resistances) and buy entry (Supports) points. And as such the current level seems to be a major buy entry on the long run.





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