Sup guys,
Quick follow up to my bearish outlook from a few days back.
Ethereum has managed to hold strong for the time being opening up the possibility of further upside.
The weekly chart shows a clear inverted head and shoulders pattern that could play out next week to lend support to the idea that the run up isn't over just yet. This possibility strengthens with a hold above $500 for the week.
Having said that, the bearish outlook from last week could still play out before this bullish momentum has a chance to come in.
The indicators I use are arbitrary. Personally I trade off of price action with major price and trend lines. If you rather see different indicators just let me know.
Talk soon
-Dan
Quick follow up to my bearish outlook from a few days back.
Ethereum has managed to hold strong for the time being opening up the possibility of further upside.
The weekly chart shows a clear inverted head and shoulders pattern that could play out next week to lend support to the idea that the run up isn't over just yet. This possibility strengthens with a hold above $500 for the week.
Having said that, the bearish outlook from last week could still play out before this bullish momentum has a chance to come in.
The indicators I use are arbitrary. Personally I trade off of price action with major price and trend lines. If you rather see different indicators just let me know.
Talk soon
-Dan