After today's explosive move we saw in both Bitcoin, Ethereum and most of the crypto market, I'm starting to feel confident that it may be the real deal finally. A Squeeze fired short last week on Bitcoin, but with the move we saw yesterday, the momentum has now shifted bullish. If we see a continuation I think we're in store for a few weeks of bullish activity. On an hourly chart here in Ethereum a very nice bull flag has setup and looks like it should play out as expected (long). Using Fibonacci Extension for my targets, I'm looking for the first target to come in at 541 then 598. With Squeezes on 4, 8 and 12 hour charts all looking to fire long I'm feeling good about going long here. If the flag fails to the downside, I have a pretty tight stop set at 511. GO ETHEREUM GO!
Comment:
Everything still looks good with Ethereum. Overnight ETH had a nice move up through the first target and once again we have another bull flag setting up. As long as they continue to play out, I'll continue to take them. Next stop 577!