- SMI is starting to bottom out and moving up. See the yellow circles. This is happening above negative area which is promising.
- Fibonacci line of 50% has been broken from top to local bottom which is suggesting that next we will test the 61% fib at 0.03679 next.
- Also on bigger Fibonacci setup from start of the rally to all time high, we almost touched the 50% fib line but more downwards got rejected with big which also implies that we could see higher prices in the following days.
Ok, seems like eth just doesn't want to come down at all. But who am I to blame it when day after day positive news keep dribbling in a slow but steady pace and more and more people get to know this very promising new tech. I've yet to grasp the fully potential myself here and I'm enthuastic if I may say so. Next I'm going to look up on the very promising DAO's coming from Maker and Slock.it, I suggest everyone else interested in investing will look these up also. Maybe we can have a chat later!
We also have Vitalik doing a talk hosted by Coinbase later today and I expect Vitalik to nail it as usual. Considering the influence Coinbase has, this could be very big news coming our way. This also makes me question if bitcoin has any benefits of so called network effect when it's so easy for service providers to switch to Ethereum .
Good luck and remember to not trade with more than you can afford to lose!