ETHEREUM On Flag Pattern Breakout to go LONG
It seems we have a FLAG pattern forming on ETH/BTC where price action has just broken out of structure and in my opinion, is a good signal for Entry to go LONG (Purchase Ethereum) coins.
Not only do the Technicals suggest upward movement (Even past the 1st August), fundamentals show promising positive news as Ethereum Alliance has just added added 'Mastercard' to their group.
This announcement is here:
entethalliance.org/e...ockchain-initiative/
Another source for this is here:
themerkle.com/e...bounds-over-50/?0Uey
This is quite a huge step forward for cryptocurrency and in my opinion, paves the way forward for Ethereum to possibly increase their value much above that of Bitcoin as well as many other coins gaining significant value as well, such as SiaCoin etc...
Due to the fact that the breakout has already occurred, the first 4hour Candle has closed above the structure and a retracement has begun, I have now activated my position (eg Purchased Ethereum) and will sit on these long-term. Don't be surprised if you see the price action retrace significantly during the 1st August regarding Bitcoin split etc... Most likely it will just be a retracement and the result will be a very huge push in a bullish direction (ie. Upwards) from here on in.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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Not only do the Technicals suggest upward movement (Even past the 1st August), fundamentals show promising positive news as Ethereum Alliance has just added added 'Mastercard' to their group.
This announcement is here:
entethalliance.org/e...ockchain-initiative/
Another source for this is here:
themerkle.com/e...bounds-over-50/?0Uey
This is quite a huge step forward for cryptocurrency and in my opinion, paves the way forward for Ethereum to possibly increase their value much above that of Bitcoin as well as many other coins gaining significant value as well, such as SiaCoin etc...
Due to the fact that the breakout has already occurred, the first 4hour Candle has closed above the structure and a retracement has begun, I have now activated my position (eg Purchased Ethereum) and will sit on these long-term. Don't be surprised if you see the price action retrace significantly during the 1st August regarding Bitcoin split etc... Most likely it will just be a retracement and the result will be a very huge push in a bullish direction (ie. Upwards) from here on in.
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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Comment:
It seems that there is also a head and shoulders forming, which is another confirmation of future bullish trend
