ivogruev
Long

The up trend is building his supports

KRAKEN:ETHXBT   ETHXBT
72 0 2
The most likely scenario is bullish for Ethercoin. The price action and the waves favor the support at 0.001860 as a very important one. As the price is above that level I will expect a test at 0.02950 and then at 00.3670. If those resistances hold we will have to axept a ranging scenario for several months. A break out above 0.03670 will signal resumption of a bull trend wih targets that are difficult to predict. The fifth waves are used to be smaller than third waves in stock market and forex , but cryptocurrencies show features similar to comodity markets and often we withness longer fifth waves. For the time being I preffer to buy at the recent levels and hold for a longer period of time (at least several months). Later if I see any signs of distibution I will reconsider my exposition.
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