ETHUSD is very close now to major action happening. There is a chance to break down but my faith would be to the upside. 3 day chart show the 20 MA completing its correction to the 50 MA and on the left we see the 1 week chart with a star doji. Also on the three day chart BB% B indicating that action is rising to a break out and on the 1 week chart showing as very sold out/lack of interest on the Stochastic RSI. We should watch now a daily chart for a BB breakout and a strong green candle on exceptional volume. This has plenty of room to run when it goes so don't bother tying up your cash until we get rolling along. Trying to time the bottom perfectly usually just ends up frustrating me and makes me go crazy... lol
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please click on the chart for my notes
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targets indicated
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At this point of course this is just a speculative idea. When we get a breakout and start to see the structure and how it unfolds we will have a better idea of what the picture will look like.
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Remember we should wait now for a bullish confirmation. There is a change that this cab languish for sometime or even fall and especially if BTC has a surprise final upside rally. So we wait patiently for now...
thanks! looking forward to the breakout. first target is 800?
UmerDurrani
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Thanks for sharing. I do agree with you considering the fundamental and technical indicators that there is a higher chance of a higher breakup (which is due for sometime now) than a lower one. I am holding onto my ETH :D Please do share a follow up review (either way ETH goes)
DrJLT
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It can break up or down. At this point, it's hard to tell. Let's not get ahead of ourselves and try to predict 2019.
Btw, you could've easily used the log chart and say it'll go to 10k by 2019.
Gigantos
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thank you!
kevin8622
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Thanks @graham.edwards84 ! I like to read your explainations !