Ethereum - Bullish chart with Strong V-Recovery
Updated
Ethereum along with Bitcoin had a strong V-recovery basically erasing all losses for one the biggest dumps. Few things are noticeable are that the trend is corrective at a lower angle which shows bearishness is fading and also a broadening channel on the latest move which indicates a strong divergence between buyers and sellers, eventually, one side has to step in because they keep selling to low or buying too high and provide for an extra-strong move.
The V-shape recovery and direct test against resistance show that bulls are in control, just to be cautious it is still smart to take profit at resistance where we are now. A potential retest can happen in the green area, or if it breaks out one can re-enter.
Love to hear your thoughts (ps. for more info check out my profile status),
-TheTrex
The V-shape recovery and direct test against resistance show that bulls are in control, just to be cautious it is still smart to take profit at resistance where we are now. A potential retest can happen in the green area, or if it breaks out one can re-enter.
Love to hear your thoughts (ps. for more info check out my profile status),
-TheTrex
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