As I said yesterday, the uptrend can no longer keep up the momentum. The top of the uptrend channel was almost reached @47€ which gave the bears are profitable trade.
Bulls need a rest and need to fall back to their front line to the support level of 31 € and major support of 28 € / 30 USD
It is uncertain if the uptrend will be over, or if it will continue to surge higher, but one thing is certain: buy the dip and you will at least make money on a corrective wave.
There are huge things going on in the space of ETH, and major news are released very often at keylines (28-31€ area) so you should watch this thing closely in the next 2-4 weeks.
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looks like we have a break out
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ETH was rejected at the resistance again. classic fake out
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update: We have a really strange pattern on the 4h and 1h of ETH/BTC. I didn´t see something like this before. Someone is forcing the price to go up and it seems the supply is too low to take the price down again. Well, resistance levels are still intact, but it looks like we are slowly pushing through.
I am very cautious with this trade and hold spot positions only.
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We broke the ATH! this chart is not valod anymore, please see the linked one
Pato do you think it will be a good idea to play on short sell at 41 - 42 ? I still believe it will go at list till 31 - 35, however the breakout is on strong up trend ?
Pato99
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@GhenadieCeban, mate, i really would never short a bulltrend, this can only end bad
Max_Miner
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@Pato99, Thanks, you are right, on BTC we got above the ATH however on Euro an USD still behind. Did you find any news/reasons that pushed the price so crazy ?
Pato99
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@GhenadieCeban, no i don´t know why this happened. It might be because of the falling Bitcoin. If this is the case and BTC makes a turn it will end in an ETH bulltrap, if not, BTC marketcap could flow further into alts and especially ETH
Max_Miner
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@Pato99, If BTC makes a turn i believe ETH will go down till 25 - 30 maybe even lower of course if it will broke the uptrend resistance which still it seems to be intact.