There are no new highs on ETHUSDT since mid-April, the 13th week. Here we can see also MA200 working as resistance, bad news?
If you follow my Bitcoin articles, I mentioned how consolidation right below $80,000 was a bullish development. Bitcoin traded two weeks below $80,000 just to break through this week and stay above this level. The fact that consolidation was happening right below resistance was a bullish signal rather than bearish.
A bearish signal would be a rejection at resistance and the trading moving down toward support. If the action is happening close to, or at support, then the bears have the upper-hand as support can break anytime. If the trading is happening close to resistance, either the bulls are waiting for sellers to become exhausted to then move forward gracefully, or gaining strength to attack resistance as soon as it becomes viable. Patience is key.
Ether trading right below resistance is a bullish development right now, one can even open a new position at current prices because a bullish continuation is the most likely scenario. 7 times out of 10 we get a continuation on this type of chart setup.
Just to match Bitcoin, Ethereum would need to move to a price of around $2,750, and it is coming. See what is happening with Toncoin, Notcoin and Dogs. Many other projects are breaking up and remaining up. It is not only the bullish breakout but the fact that each day is followed by additional growth. This is the most bullish and enticing signal of all. This signal does two things: (1) The bear market is over—bottom confirmed and, (2) instead of a sudden bullish jump or a small relief rally, we get a full blown bullish cycle, the best possible ever.
Q: Ethereum lacks new highs should I fold or hold?
A: Buy, double-down, accumulate and buy more. The best is yet to come. Ether is going up.
Namaste.
If you follow my Bitcoin articles, I mentioned how consolidation right below $80,000 was a bullish development. Bitcoin traded two weeks below $80,000 just to break through this week and stay above this level. The fact that consolidation was happening right below resistance was a bullish signal rather than bearish.
A bearish signal would be a rejection at resistance and the trading moving down toward support. If the action is happening close to, or at support, then the bears have the upper-hand as support can break anytime. If the trading is happening close to resistance, either the bulls are waiting for sellers to become exhausted to then move forward gracefully, or gaining strength to attack resistance as soon as it becomes viable. Patience is key.
Ether trading right below resistance is a bullish development right now, one can even open a new position at current prices because a bullish continuation is the most likely scenario. 7 times out of 10 we get a continuation on this type of chart setup.
Just to match Bitcoin, Ethereum would need to move to a price of around $2,750, and it is coming. See what is happening with Toncoin, Notcoin and Dogs. Many other projects are breaking up and remaining up. It is not only the bullish breakout but the fact that each day is followed by additional growth. This is the most bullish and enticing signal of all. This signal does two things: (1) The bear market is over—bottom confirmed and, (2) instead of a sudden bullish jump or a small relief rally, we get a full blown bullish cycle, the best possible ever.
Q: Ethereum lacks new highs should I fold or hold?
A: Buy, double-down, accumulate and buy more. The best is yet to come. Ether is going up.
Namaste.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.