TheCheartBreaker

Ethereum Heiken Ashi monthly reversal signal?

POLONIEX:ETHUSD   Ethereum / U.S. Dollar
After a long uptrend we are about to print our first red heiken ashi candle on the monthly.

This could be an indication that uptend is or has neared its end as in the previous cycle we printed 13 consecutive green monthly candles after which the uptrend reversed and had a continued downtrend. We have had in this cycle 12 green consecutive monthly heiken ashis and are about to print our first red. This does not necessarily mean we will fall into a long bear market but we may have reached the end of the uptrend for now. We will have to observe how the next few monthly candles close to identify if infact a downtrend has commenced or its simply a consolidation zone before continuing the uptrend.

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