BTC just touched the 50 Moving Average on the Weekly chart (more relevant) and retracted quickly.
As of now it doesn't look like it has the "umpf" to go above it.
We will see in the next days.
My personal feeling is that the bulls need to regroup at this time as more buying power can be gathered at lower prices.
This is not trading advice, just my personal opinion.
As you can see on the chart, the all time uptrend line in green and the bearish downtrend line since the the last al time high in black.
At this time EOS is testing the green uptrend line. Lets see if it bounces
EOS is being squeezed between the all time uptrend line (green) and the bearish downtrend line since the ATH (black).
Decision time is coming very soon.
Watch the price action closely when these lines are touched and be ready to act.
Buy or sell the breach for a more aggressive trade.
Buy or sell when the line is tested after breach for a more conservative trade.
EOS was the first Coin to make a new ATH (all time high) after the freezing winter lows.
If you take a look, day by day it is trading between a narrower and narrower price rage (under 1$ oscillation daily), for me this looks like accumulating strength.
Today we will have the Evolution Airdrop for all EOS holders, good trigger for the Moon or at least some decent...
The line in my chart is the up-trendline i draw in November which has been tested a few times but never broken since then. I am watching this line since then.
If the market can not recover and will start to close candles on the 4H chart under this line then Ethereum is realy in trouble and you should be ready to buy on the bottom after signs of life.
I just checked my first post on ETH here on TradingView (November 2017) where i just drew a trendline.
I was surprised to see that the trendline i drew then is still intact.
I recommend to always zoom out before making any decisions, looking only at details can be misleading and lead to bad decisions.
As most of the market is still going strong. ARDR looks like its doing a retracement after hitting an ATH well over 2$.
With only 1 billion coins that are all in circulation, a solid team (team that built the NXT platform) and coming out of the test system into the live own block chain on the 1st of January, this project will have results to show in 2018.
I`we been watching ETHUSD behavior on this line for a few days. ETH just bounced off it.
I am watching for it to bounce off 330 next.
I am long since 297. My personal opinion is that ETH is strongly undervalued.
Happy Trading :)