London just opened and we got to know about ether,
here we're looking at ETHUSD which made a recent low of 2018
and it's quit hard to tell weather it's ready to but after determining certain factors
we can make an estimate that Ethereum is now ready even for a small swing!
so, Technicals are in favor we have
1. Dynamic Support (L1&L2) Confirmed,
2. Index is crossing M5 Bands
3. CMO is Oversold
4. Price Action - (Looks like it's ready for a reversal)
5. Support (exponential)
So, we'll Hold our positions now or you can wait for Daily candle to close above (In order to get confirmation)
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It perfectly bounced off completing 1/3rd of our Target ratios
Now, at this point it's necessary to book some profits.
next resistance phase at $600 (W200MA)
(will update you once we exit or take half profits)
Wonder when the whales will claim that the adverbial use of BTC pushes its value.
It is hard to overlook these fundamentals especially in regard to ETH:
1) SEC is most likely going to regulate ETH, which contradicts the whole decentralization effort(s)
2) Too much "dumb money" got involved and got burnt or pushed out (not buying on credit anymore etc.)
3) Blockchain doesn't need us to continue drawing lines on charts to progress