Ethereum... slope of hope
Updated
Considering this scenario, bounce off support to form a right shoulder, then down all the way to support line between 0.05-0.06 before resuming long-term bullish momentum.
Note
A few more thoughts... middle support line (lower dotted line) is strong. might reach bottom around 0.06-7 but I think 0.05 is absoloute bottom.I am NOT selling any Ether which I previously bought under 0.05 for these reasons:
1. I still consider it a strong hedge against bitcoin and willing to stomach short-mid term movements.
2. ICO's... will always need some handy
3. Ether has a habit to throw a wrench at TA more so then others
Good Luck!!!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.