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zorjak
Jan 10, 2018 9:48 PM

Ethereum ETH correction to come. it looks overbought Short

Ethereum / U.S. dollarBitstamp

Description

A correction of ETH can happen in the following days.
Dark Cloud Cover on the 12h candlestick.
RSI is over 80.
Overal uncertanity on the market.

Resistance is at 1000-950$. Possible good entering position.

Comment



RSI on weekly chart is over 80

Trade closed: target reached

Target reached ETH touched 1000$ but the chart looks like a double top. Which means that ETH could fell to 850-900$.

Comment

Trade closed: target reached

it touched 900$. I think that it won't fell more.

Comment



Ethereum felt to 800$ but it bounced very fast. Now it is trading at 1000$. I think that 900$ was a good entering position.

ETH should go to 1200$ very soon. Critical resistance is between 1150-1200$. if it gets broken, a further bullish trend will continue. I would suggest booking some profit in that range.
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