Price consolidating from 12/18 high of 380. Need volume confirmation with the help of Asian market tonight. Can look to go long with a limit order 350-355 range
I don't think the price surge here really surprises anyone with the anticipated launch on Bitstamp 6/19. One thing that I do believe is clear, the days of sub $30 levels are over as we're now likely looking at the $35 level as support and resistance around $50, tbd if we blow through that however interesting to point out a trend I’m seeing consistently both in...
As you can clearly see if you're adding to or beginning positions in $ETHUSD at the 50% fib retracement levels you've been rewarded. It would seem that once again this is proving true!
A look in the past...
-Broke down officially week of 11/5/12 beneath 50 day
-Took until week of 6/23/13 to make its way down to the 200 day where it found support
-Week of 9/22/13 climbs back above 50 day which proves Bullish as it does not falter below 50 day until 8/3/2015... and so the cycle begins! I maintain we are going through this exact situation currently...