ETHUSDT
continues to run as I have expected in my previous analysis. Here's some updates of my thinking. Let's take a look on it. As you can see I draw many lines on the chart.
- the 3 trend lines: from left to right, you can see 3 trends lines for short, medium and long term downtrends (black, purple, orange). We want to resume our long term up trend then we need to breakout them one by one.
- lines in green: I use 3 levels of green color here, the lighter the color is, the lower the probability it will happen. So in my opinion we will go by the dark green line. In next 2 days we need to break through 404 level (oops level not found, lol) to exit the short term downtrend, if everything is fine then 482 will be the next target.
And I also have to mention that the worst scenario here is when we can't exit the short term downtrend at 404. Then we'll see blood. The RSI is ~23 at my writing time, if we go lower then we'll probably open a new downtrend. So heaven or hell? 2 more days.
Thank you,
Comment:
ETH is at its crucial point to break the short term downtrend(the brown line) now. If you already bought the last dip then just hold. If you didn't so just be patient, don't open any trade now.
