ZacharyNewman

Late January Ethereum Outlook

POLONIEX:ETHUSD   以太坊 / 美元
Technical:
Ethereum has had an explosive couple of months after the multi month June-November wedge broke out and resulted in a big move up. Purely in terms of charts Ethereum looks like its following its habit of repeated bull flags pushing it up after the initial breakout. This trend was interupted over the past week or two as large amount of panic selling occured. As such there are several options I see happening here.

1: Ethereum recovers as BTC recovers and a large amount of money continues entering the market pushing everything up with it. This would force another bull flag to form over the next couple of days or would involve a pure breakout past ATH's. Some variant of this I see as the most likely event to happen as this correction although not over seems to be at least subsiding in intenstiy. This combined with the fact there is so much volume on the table in crypto will cause the bull to continue upwards.

2: The markets continue to be undecided as to which direction is most appealing and bounce around consolodating for the next weeks to months. This would cause the larger wedge to form and result in a much bigger breakout and run when it happens again. This seems unlikely base don the past several months but with so much media attention and the pullback that happened recently could cause buyers to stay away at least in as much intensity.

3: The pullback. Its probably going to happen at some point but would require falling value across the board with BTC leading the pack down. This could happen but since it is January and this market sentiment is so common this outcome seems unlikely

Fundamentals:

Ethereum is my favorite asset to trade, it has a history of consistant upward movement driven by strong technology and innovation from the Ethereum Network. After consolodating from July the breakout in november has been large but Ethereum is capable of sustaining much bigger and longer bullish movement than what we have seen so far it seems likely that one way or another we will see large moves upward.

The number of transactions that are occuring with Ethereum are what is really making ETH stand out for me right now. BTC still dominates the media and takes most of the blame and prestige for upward and downward movements, but ETH is being talked about much more as a true contender for the #1 spot.

Proof of stake is coming along nicely with Vitalik and other devs giving fairly consistant updates on its progress. We will probably see it released Q2 or Q3 2018 in my opinion which will be the true moment ETH has the ability to dominate markets.

Overall ETH still seems very bullish for me but with the market so indecisive right now it is worth being careful with what you invest and taking smaller positions which can be sized if price drops or bounces along a wedge formation.

Buy: $950-1050

Sell:
Short term: 1500$
Long: $2000+
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