mcmutton23

ETH Bull market, close above 305

Long
BITSTAMP:ETHUSD   Ethereum
So here we are again.. we are in a somewhat bullish channel. We broke the very difficult 300 resistance zone, and heading up currently. I market some areas of resistance, i believe at the 315 zone and as you look to the left indicated by the arrows, historically we see that is a region of mild resistance. 340 is a tougher one, where looking left we see double the amount of resistance there. Any catalyst positive or negative will push this higher or lower. If you're going long, stay long. TP 1 is 315, TP 2 is 340. Keep a firm eye on this though, as we are looking at very high RSI currently and there will be some retracements.. hopefully 300 is now a new support zone, as opposed to resistance, and we get some good news on cryptos, rather than bad news from the shady banking fiat system, trying to drive the prices down so they can buy into cryptos at a discount. DONT believe the news, it is all fear mongering so they can get their piece. Also take note, we are above the cloud, showing good bullish movement. Any close below 300 and you may want to reverse positions for a short. Expect 300 to be a new support zone now. Good luck and may the force be with you.
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