So I am "always bullish", what's different this time? The answer is simple... Volume!
Let's take a look at the ETHUSD charts and start with the daily long term.
First let's take into account the overall market sentiment. We are seeing many altcoins really take a change of course with the best examples being Ripple ( XRPBTC ), Dogecoin ( DOGEBTC ) and NANO . Many others are doing great with some jumping over 100% in price in a matter of days. This should be enough to raise a few eyebrows.
These pattern keeps on repeating and we are seeing more and more for all altcoins, as well as increasing when it comes to Bitcoin and a move with good strength that has been missing before.
Now, these are still early signals as Bitcoin is still under bear pressure. Only after Bitcoin is out of the bear market, we can count on a bull market. In the meantime, we look at the charts and take action based on the signals we are getting. These signals are telling us to buy low and sell high, make money as we are already doing, with many of our altcoins trades.
Daily time frame:
- First I marked the price from which ETHUSD bounced with a yellow . You can also see the date on these candles. The price from which ETHUSD bounced, it is the same level from which it bounced around May and July 2017. These levels held twice. Now we are bouncing from this same support.
- When the bounced from oversold ETHUSD went on a up run back in April. Now, we are moving out of oversold once more but with more strength and momentum.
- Marked with a purple arrow is the on the . This is a very strong single and it is already playing out.
- For the daily candles, is the highest we've seen since September 2017... That's huge , that's a big difference when it comes to a real breakout and a very important one.
- The is now on the zone. And all the indicators are either or trending up.
Here is the weekly chart:
- Notice the huge below the yellow . The last two candles are reversal candles supported by the just mentioned.
- The is coming out of oversold and slightly curving up, and we are jumping up from the bottom of the .
- The signals here still need more time to develop, which actually means plenty of room available for growth. 495% Profits Potential ( PP ) to ETHUSD all time high.
This is all for today.
I am sharing this for your learning and entertainment. Your support is highly appreciated.
Huge potential. Solid project.
Ethereum is a good altcoin to hold long term. It is basically independent to Bitcoin and has an incredible reputation within this industry. Now it is getting ready to start moving up!
My trade for ETHUSD is still active. We are waiting now, no actions required.