This retrace started on 1 february 2018, is getting quite persistent!
While 895 is the level to watch for a "bullish" signal, we must also keep an eye to the lower support at 492.
A break of the 492 level would mean the end of the wonderful bullish trend started on 1 march 2017, when ETHUSD was just at 15.70!
An incredible trend, that gave astonishing returns to buyers.
Getting back to today, and to sum up:
895 - level to break in order to end the down wave we are currently in (from 1 february 2018).
492 - level to break in order to end the bigger up wave we are currently in (from 1 march 2017).
As for what might happen if 492 break, it will depend on how traders will see the "end of uptrend" event.
Will they see it as the ultimate DIP to be bought? (Buy Low!)
Will they panic and flash crash?
Questions that will find an answer, always IF the 492 level is going to be broken at all! (we are still above it as of now)
Time will tell..
While 895 is the level to watch for a "bullish" signal, we must also keep an eye to the lower support at 492.
A break of the 492 level would mean the end of the wonderful bullish trend started on 1 march 2017, when ETHUSD was just at 15.70!
An incredible trend, that gave astonishing returns to buyers.
Getting back to today, and to sum up:
895 - level to break in order to end the down wave we are currently in (from 1 february 2018).
492 - level to break in order to end the bigger up wave we are currently in (from 1 march 2017).
As for what might happen if 492 break, it will depend on how traders will see the "end of uptrend" event.
Will they see it as the ultimate DIP to be bought? (Buy Low!)
Will they panic and flash crash?
Questions that will find an answer, always IF the 492 level is going to be broken at all! (we are still above it as of now)
Time will tell..
