ETHUSD - Still not bullish
I'm not a trader, so do your research before following this chart.
I've been maintaining this chart since early last week. As you might have seen, the green uptrend line was broken, which caused ETHUSD to test $180 (ok, $175) twice and it's now at $224. I believe $230-ish to be the resistance at the moment.
The downtrend resistance must be broken with strong volume before the correction is over in my opinion. If the new (red) uptrend support doesn't hold over the next few days, it could be that we see a test of the longer term (yellow) uptrend support of $100-115.
Expect volatility until the end of the month (BTC forking or not).
Thoughts?
I've been maintaining this chart since early last week. As you might have seen, the green uptrend line was broken, which caused ETHUSD to test $180 (ok, $175) twice and it's now at $224. I believe $230-ish to be the resistance at the moment.
The downtrend resistance must be broken with strong volume before the correction is over in my opinion. If the new (red) uptrend support doesn't hold over the next few days, it could be that we see a test of the longer term (yellow) uptrend support of $100-115.
Expect volatility until the end of the month (BTC forking or not).
Thoughts?
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