Dear Friends, in our previous post we discussed about how 492 was a very important level for ETHUSD.
Now that such level is broken, we can officially say that technically speaking, the up-wave (or trend) started on February 2017, that pushed the value of one Ethereum from 15usd to a top of 1400usd, is officially over.
Scary? Maybe
What we have now?
We have a market that is essentially very oversold at this moment.
Look at our chart, we can see that the indicator on the fourth window (from top to bottom), show the end of the big uptrend (it is not green anymore, now is red).
The third indicator (smaller multifractal), is bearish of course, but it is also showing a very oversold situation.
The second indicator (even smaller) too, is bearish, but very oversold.
Many people are in panic right now, but if you are a "buy low" guy, let me tell you, this might be the opportunity that present itself once every few years.
Remember, the market is bearish now, fighting the trend (bearish in this case) is always dangerous.
BUT, if you are crazy enough to fight it, this can be the right time to buy low!
Take care!
Now that such level is broken, we can officially say that technically speaking, the up-wave (or trend) started on February 2017, that pushed the value of one Ethereum from 15usd to a top of 1400usd, is officially over.
Scary? Maybe
What we have now?
We have a market that is essentially very oversold at this moment.
Look at our chart, we can see that the indicator on the fourth window (from top to bottom), show the end of the big uptrend (it is not green anymore, now is red).
The third indicator (smaller multifractal), is bearish of course, but it is also showing a very oversold situation.
The second indicator (even smaller) too, is bearish, but very oversold.
Many people are in panic right now, but if you are a "buy low" guy, let me tell you, this might be the opportunity that present itself once every few years.
Remember, the market is bearish now, fighting the trend (bearish in this case) is always dangerous.
BUT, if you are crazy enough to fight it, this can be the right time to buy low!
Take care!
