BITFINEX:ETHUSD   Ethereum / U.S. Dollar
407 0
I feel comfortable with the information I have to make a medium-term plan.
As always the R & S area will play as a confirmation, however nothing tells me that we could completely lose the movement and fall below the last minimum.

In this case, what I am waiting to confirm is how aggressive the uptrend will be.

In general the feeling of the market is quite negative, many people are afraid to buy and lose the level. This is the reason why I believe that we are currently moving slowly.

As always this is just a map of what there is towards the trend, the news and information in general can generate a drastic change in an easily influenced public.

Best wishes to all.
Comment: This is a very very important point ...

Unlike LTC and BTC, I see this chart with different eyes, and it's not good.

A rebound at this time in the R&S area from below is usually bad news and may mean that the bottom was not the bottom. Keep calm!!! and clear your mind. Luckily we have graphics as a reference.

In my chart it is clearly marked what could happen if do not cross the R&S zone

Each one is responsible for their own decisions, sell or hold, is something that each "investor" must decide according to their objectives.

The worst case would mean falling below the last bottom for which I would make a new chart with new levels.

Best wishes to all.
Comment: I think the graph is quite clear, the plan is right there. I will give it time to see how it develops.
Comment: I just published a bitcoin update however although the first movement between this two started the same, did not end in the same way, in this case with ETH we see that it did not cross the R&S area but also it did not lose its projection point, therefore the movement It is not closed and all levels are still active.

The only change I will make is that due to the time it has taken to move I will target point B near 1400.

Let's see how it develops.
Comment: 700 still fine .... important support.
Comment: The levels are still valid but we have no angle, I will prepare a new chart.
Trade closed manually
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