I am long on ETH - 
also have been accumulating, after bitcoin I think only Ethereum has a good chance of surviving on the long run
for ETH to start a BULLRUN & achieve new highs we have to break the weekly trendline
last time interestingly price was stopped at .705 Fibonacci retracement from the top, this time around it's at around 234$
I will keep an eye on this level if I see good rejection might just enter a swing short!
also, this will confirm an HTF downtrend Lowerhighs & Lower Lows, which will lead to my idea what if we just go sideways for a few years before starting a new Bull cycle -
interestingly trend line resistance at 234 & IF we hold the support on weekly at 100$ will confirm a descending triangle that might be forming
also have been accumulating, after bitcoin I think only Ethereum has a good chance of surviving on the long run
for ETH to start a BULLRUN & achieve new highs we have to break the weekly trendline
last time interestingly price was stopped at .705 Fibonacci retracement from the top, this time around it's at around 234$
I will keep an eye on this level if I see good rejection might just enter a swing short!
also, this will confirm an HTF downtrend Lowerhighs & Lower Lows, which will lead to my idea what if we just go sideways for a few years before starting a new Bull cycle -
interestingly trend line resistance at 234 & IF we hold the support on weekly at 100$ will confirm a descending triangle that might be forming
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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.