Here we can see that we have been in a consolidation period with ETH/USD. The general trend of this consolidation has been slightly bullish meaning we could see a breakout soon. We will be looking for a bullish confirmation candlestick in order to confirm an uptrend. This could be further supported by the fact that we are heading for some support on the 2/1 Gann line. If we see bullish confirmation after this consolidation I expect some nice price rise, but that is only if we get confirmation, any sort of bearish confirmation after consolidation could mean trouble with price potentially falling through support line. Price is sitting at neutral position in terms of our MA and stochastic is at medium threshold so these conditions are ideal for an uptrend. We really will just have to wait and see what happens after this period of indecision.
Comment:
Looks like bearish confirmation, downtrend could be ahead beware
Comment:
Bearish confirmation says time to drop
Bearish confirmation says time to drop
