Ethereum Following Technicals Like A Champ
#ethereum #spotetf #etf #eth #altcoins
Traders,
I love it when technicals follow probable patterns and paths. It confirms everything we study and chart regard the collective psychology of the market. About a week and a half ago, we spotted a descending wedge on Ethereum. The bottom of that wedge was right around .618 fib retracement. There was also a notable point of control on the VRVP. And the 200-day SMA was just underneath. If these indicators weren’t enough proof Ethereum was going to explode soon, we had many other indicators starting to flash green. Look at the Awesome Oscillator with bullish divergence for instance. Anyways, Ethereum showing bullish indications is a big reason why I went long on so many altcoins and am now almost 100% all alts. I created this post noting what we were observing:
This. Is Actually Bullish. But First. One More Liquidation?
Traders, I'm seeing this on the Bitcoin chart as well (future post). But here on Ethereum, we are in a bullish descending wedge. It should break to the upside soon. However, be careful going all in just yet. My spiny senses are telling me we could have one more liquidation of longs incoming before all lights are green. Our .618 fib level seems to be hold…
As the post observes, we had our small liquidation event and then today ….booooom! (see chart below) - It’s almost time my friends. You don’t want to miss this next bull run. Subscribe and follow for more huge calls like this to come.
