Hello all. Etherium broke bearish out of the symmetrical triangle and as we predicted in the previous post, today it hit the measured move at $4200. Nothing to panic. Instead, be ready for eth retesting the bottom of the rising channel as indicated in this post which will put as around $3600- $3300 range. The bottom of this channel also corresponds with the support level.
RSI remains in the oversold territory which again makes eth very bullish. treat this correction as your black Friday sale for etherium and load the bags. it will bounce either after retesting the daily 50 EMA or the bottom of this channel. The move up should put etherum to a new all time high, at approximately $6000 at 1.6 fib level. Thanks for reading. Enjoy.
RSI remains in the oversold territory which again makes eth very bullish. treat this correction as your black Friday sale for etherium and load the bags. it will bounce either after retesting the daily 50 EMA or the bottom of this channel. The move up should put etherum to a new all time high, at approximately $6000 at 1.6 fib level. Thanks for reading. Enjoy.