Hey guys
Just a quick update on Ethereum.
BTC hit new 2019 highs and a reaction is going to come. Is the new higher low 5200, 5500, I don't know. Maybe a new lower low? No idea at the moment.
What I know is, that ETH hit the top of a rising wedge and I see that one fall heavily if it takes that road. With BTC probably topping and reversing, this probably triggers ETH rising wedge, which causes is to fall heavily.
Furthermore we are at horizontal resistance, so be careful.
If you want to buy ETH, wait for a breakout out of the rising wedge and pay a premium, but certainly don't buy the top of the wedge now.
Best regards and take care!
Just a quick update on Ethereum.
BTC hit new 2019 highs and a reaction is going to come. Is the new higher low 5200, 5500, I don't know. Maybe a new lower low? No idea at the moment.
What I know is, that ETH hit the top of a rising wedge and I see that one fall heavily if it takes that road. With BTC probably topping and reversing, this probably triggers ETH rising wedge, which causes is to fall heavily.
Furthermore we are at horizontal resistance, so be careful.
If you want to buy ETH, wait for a breakout out of the rising wedge and pay a premium, but certainly don't buy the top of the wedge now.
Best regards and take care!