haris.hronos

ETH should break this nice envelope for one more bull run!!

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Hello fellow traders!

ETH started its short term bull run with the crossover of the 50EMA(green) and the basis of the envelope ( the weird orange).
The big gains came as soon as ETH managed to break the envelope upper (blue).
As expected after those nice gains ETH is going to take its supports and if they hold then we should expect one more bullish run.
The first support is being found on the basis of the envelope ( weird orange) and the next and more strong support on the 50EMA.
A nice entry it would be after we have confirmation that ETH breaks the upper (blue) envelope .
Envelope is a nice indicator but if you base your entry point on it you should expect lower gains with lower risk.

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