nyancode

ETHUSD The bear market is over in short term

BINANCE:ETHUSDT   Ethereum / TetherUS
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Well you can say that I'm too optimistic to write that. But I'll tell you it's not me, it's the chart. Take a look at the pink circle, we succeeded to break through our short term trend line and still in green. Why? In fundamental I can say that all FUDs are gone, no one will call cryptocurrency a scam anymore, and after G20 the most countries realized that cryptocurrency (and blockchain in general) is an unstoppable trend. We can't put the genie back to the bottle! Yes it'll be more regulations, but not all regulations are bad. One more point that makes the market to recovery is that weak hands are gone. The price has reached to a level that most people among us won't get profit if they sell now and long term traders have no reason to sell at all. So sellers < buyers, price ups.

However this only works in short term. For med and long term we need more patience. At this time most people still don't understand cryptocurrency and blockchain. Despite the fact that blockchain is one of most awesome tech invention. We're still in early period of it's adaption. Back to the history you can see radio technology is awesome, but cell phone is the real-life product and smartphone is the one people want to buy. So be patient and zoom out when panic.

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p/s: we'll (must) have a correction at ~420 level, but it seems that everything will go fine till 480 (huge resistance).
Comment: Correction is going from 420 as expected.
Comment: Just be patient. Bounce back is expected at 374.
Comment: We reached the ~480 level then falling back as I expected 8 days ago. Be patient my friends. We'll win this war. Huge falling back is coming. But at the end we'll win. Institutional investors will see that they've missed the last wave so they'll do everything to make sure they don't miss the next. Huge volume is coming.
Comment: We've just gone over the medium term down trend. Correction is coming. For day traders you guys can take profit now. For long term holders then just go outside and relax. Big whales are playing their games. Let them do it.
Comment: Well. Things go far better than I expected. I'll close this analyse here and do another this evening. It's too hot here now, my brain can't work in this condition. =.=
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