Long

ETH Bull Flag Still in Play: The Bullish Scenario

Updated

Here is my take on how ETH bullish scenario will play out... It is still in a bull flag pattern... There are many naysayers out there who are putting articles out there asking for ridiculous prices... Mostly trolls and perma bears who hate the crypto idea, do not understand it nor care to read the white paper of legitimate projects... Of course they totally ignore the positive fundamentals stating that fundamentals have no effect on BTC and ETH, however when negative news comes out they jump on it and make everything doom and gloom... Not saying price crash cannot happen, nothing is 100%, however, price crashes happen for a reason, the last reason was cause the ICO projects holding ETH watched as BTC price was going down and dragging all crypto prices with it including ETH and quickly started converting their ETH holdings from the ICOs into cash to sustain their projects (there was a reason the crash hit ETH so hard!! not just out of the blue!!)

It is interesting that negative articles are usually timed to be released when prices are testing major support levels... Manipulation 101 = Price Manipulation + Social Media Trolls Negativity + Negative Articles

This is just my opinion, noone can say they know what is gonna happen 100%... everything is a risk... charts are not the only thing that decide where prices will go... key fundamentals do still play an important role in influencing prices...

All the best and only trade what you can afford to lose!

Note

Check out this interesting relevance of 100MA with 50EMA on ETHUSD

ETH 100MA and 50EMA on Daily: Bullish scenario happening again?

Order cancelled

mdyassink

Also on:

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.