ETH looks pretty bullish on the 4hour timeframe because it is above most of the SMAs, except for the 200 & 300 (red and purple), but overall targets are still the same as the daily chart.
Things to note:
- the bulls have found support above the 9/21/50 & 100 SMAs between $1553 & $1578
- bulls now looking to test the 300SMA @ $1655
- if 300SMA breaks to upside, expect a test of the 200SMA @ $1690 and so on.
Regarding the ETH-Merge. I would proceed with caution and keep in mind the old saying "buy the rumor, sell the news". The overall market is extremely bearish and events like this are usually used by big whales/institutions to sucker people in so that they can dump their bags on you and crash the market. Do what you wish, but I will see all moves to the upside on ETH as shorting opportunities, as I believe the BF will ultimately play out.
Remember, we don't spread FUD in The Lounge, we keep it real because being rich isn't a fantasy, it's a series of patient analyses & executions.
Things to note:
- the bulls have found support above the 9/21/50 & 100 SMAs between $1553 & $1578
- bulls now looking to test the 300SMA @ $1655
- if 300SMA breaks to upside, expect a test of the 200SMA @ $1690 and so on.
Regarding the ETH-Merge. I would proceed with caution and keep in mind the old saying "buy the rumor, sell the news". The overall market is extremely bearish and events like this are usually used by big whales/institutions to sucker people in so that they can dump their bags on you and crash the market. Do what you wish, but I will see all moves to the upside on ETH as shorting opportunities, as I believe the BF will ultimately play out.
Remember, we don't spread FUD in The Lounge, we keep it real because being rich isn't a fantasy, it's a series of patient analyses & executions.