moshwing

moshwing

With the "great" news from china it is no surprise that ETH is losing value. current DMI showing extreme bear market while RSI is very much not moving anywhere. Fibonacci circles confirmed 3 failed resistance lines and next tampon change at 500 level.

moshwing

Low volumes and weakening RSI with stagnant rate usualy is a signal for correction ahead.

moshwing

RSI is flat while price in decline, MACD unable to break SMA. In short: either short or hold off for rebound

moshwing

Folks, I cannot be cleared, the candles don't lie, it's gonna blow to 350 in no time. if your money ain't in it you gonna cry tears of sorrow. China is looming, there's less than 17 hrs left until they are in the market.

moshwing

A healthy retreat before the mayhem errupts, don't forget china is on the horizon with one of its major platforms to release ETH, that will drive big volumes! now, to the technicals, a slight retreat to the ~265 before the next runup, the RSI looks healthy enough to retreat for 50%. the stars align for Wednesday's breakout right at the cross of major support from...

moshwing

With the news that China soon to start trading #ETH as of beginning of July 1st it's no surprise that the stars start to align, looking a the technicals; the support line crosses with resistance ~ wed. which should be a great fuel for next breakout. We just need that RSI to come down below %50 for extra assurance and volumes would start rolling in real quick!

moshwing

Looks like correction turned to upside after a classic cup and handle, another indicator that we may be approaching another rally; confirmed by positive momentum on MACD and RSI is above 50%. Another big indicator is the crossing of the 52 day SMA, we should see a little bounce around the SMA before a potential breakout.

moshwing Updated 

Expect another %26 to $300 in the next 2 days