kyer

ETHUSD Reversal to $1784+

Long
KRAKEN:ETHUSD   Ethereum / U.S. Dollar
Ethereum has been dipping this past week until it eventually found bottom along the local high at $1347. This level of support is significant because $1347 is the body of the ATH price created back in 2017. The fact that Ethereum reversed of of this level shows bullish momentum and the coin is in the middle of a reversal going back upwards.

From here, ETH just regained the 2017 ATH price of $1594 level of support and is now trying to regain the channel as support going long towards $1784 and beyond.

After ETH hits $1784 and regains the channel as support, it is 100% obviously back in bullish swing and going to touch $2022 (local high) and beyond.

This shakeout was necessary to kill off all the FOMO and greed in the market, the amount of greed we saw was unprecedented.
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Comments

Bought at 1350 and 1455 let’s go Eth
+2 Reply
kyer Bcashlove
@Bcashlove, Let's gooooo!! That's some Easy Loot! 💰
Reply
Pump it
+1 Reply
kyer ThawonP
@ThawonP, To the moon
Reply
let's sent it bro! great chart!
+1 Reply
kyer ChasingTheMoon
@ChasingTheMoon, Thank you bro!
Reply
It's getting interesting because the majority are predicting a downturn for BTC which would mean the same for ALTs. Each time we have dipped today I start to think here we go, then it bounces back each time. This weekend will tell us a lot I bet, that seems to be when stuff hits the fan.
+1 Reply
tdno ArtfulDodger1974
@ArtfulDodger1974, majority are not predicting downturn.. sideways then up. Or dip back down to low 40s then up. These days a floor of 40k Bitcoin is bearish for some.
+1 Reply
@tdno, OK yes many are saying $40k dip, although there are some bullish posts over there too. $40k is a bit of a steep dip to me, but by the time we know for sure I will have lost money so I may just have to hodl and buy more ALTs like ETH as they dip. There's a bright side either path.
Reply
tdno ArtfulDodger1974
@ArtfulDodger1974, I agree, doubt it goes that low... Maybe 43,000 - 44,500 vs bouncing off 48k up.. 50:50, who knows! Either way good idea to have ALTs too imo.
+1 Reply
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