ETH; What might happen next ?
Welcome, this is my thoughts on Ethereum at its current market state.
Right now we are battling the .5 Fib retracement (market low to high) and we're also in the midst of a textbook bear flag, hence the pole length down. Also on the bearish side, the ADX and DI show the bears in control of the market with rising momentum.
As we are finding support on both the 200 day moving average and the .618 fib, I must say I feel a little more bullish than bearish, but it is good practice to be prepared for whatever may happen! At the end of the day these are ideas not guarantees.
I would like to break the .382 and hold as support for further moves up. I'm watching closely to see which way this flag breaks because it should be a substantial move. Just my two satoshis ! :)
Right now we are battling the .5 Fib retracement (market low to high) and we're also in the midst of a textbook bear flag, hence the pole length down. Also on the bearish side, the ADX and DI show the bears in control of the market with rising momentum.
As we are finding support on both the 200 day moving average and the .618 fib, I must say I feel a little more bullish than bearish, but it is good practice to be prepared for whatever may happen! At the end of the day these are ideas not guarantees.
I would like to break the .382 and hold as support for further moves up. I'm watching closely to see which way this flag breaks because it should be a substantial move. Just my two satoshis ! :)
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