micmuc
Long

Strong double resistance broken, target 270

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Last few days/weeks ETH lagged behind BTC because of two strong resistances.

Now these are both broken, ETH will likely play some price catch-up.


Target: 270

Back-ground to the resistance lines:
what about those two big red volume bars?
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micmuc bobchen29
@bobchen29

You mean April 3rd and 4th?

I'd call them opportunistic day traders that entered short positions und the assumption we were at a support that wouldn't brake. Once we truly break it and move towards 200 their shorts stop will provide extra fuel towards the 270..
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@micmuc, I meant the Feb 24th one and April 3rd one. Yeah, for the day traders or short term speculators, that's probably it.
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