ETHUSD
Pennant on ETH is indicative it's heading down (IMHO). Why?
1) ETH is trading less than half the volume it was a week ago when it hit 320.
2) Segwit2x news readying to impact crypto land the 22nd of August.
3) ETH is highly correlated with BTC for now, which shows a rising wedge on the 4 hour chart.
4) The typical 'quiet before the 'dump' storm.'
5) ETH has not touched 300 on over 24 hours (and with it's low-volume trading, it will not do so organically without some 'whale-pumping').
6) Lastly, when the 'whales' aren't actively buying, watchout!
That said, I predict ETH to retest at 270ish zone before a Bull run to 330-350 (and maybe even 400-peak before the ETH Fork in Sept)... It may even touch into the 250ish zone before going back up.
Disclaimer: I'm not an expert, but I am consistently profitable. I buy low, sell high, bet big, and avoid risk exposure due to over trading. I can be wrong, so take my opinion for what it is. Cheers.
Comment:
Although a cup and handle formation pattern may form to tip the scales (now that a few larger players have surged), I believe it will likely retest 270 nonetheless before hitting 350. Trade wisely!
When all else fails, simplify. -Me
DISCLAIMER: My analysis and opinions are mostly based on the current trends and chart analysis. That said, you are inevitably responsible for your own decisions. Trade at YOUR own risk. Cheers!
DISCLAIMER: My analysis and opinions are mostly based on the current trends and chart analysis. That said, you are inevitably responsible for your own decisions. Trade at YOUR own risk. Cheers!