Bullish but cautious.
ETH seems to be forming somewhat of a base. Volume is tapering off after the huge volume dump that occurred about month ago, but I still remain very cautious in ETHUSD for the following reasons:
1. Still below the 200ma.
2. Still to display an ignition bar. Most daily volume bars are still selling with no clear sign of sustainable buyers.
Thus, I'm looking for another test to the lows, making a double bottom. Ideally giving time for the 200ma to be below the double bottom neckline.
Any comments are welcomed!
1. Still below the 200ma.
2. Still to display an ignition bar. Most daily volume bars are still selling with no clear sign of sustainable buyers.
Thus, I'm looking for another test to the lows, making a double bottom. Ideally giving time for the 200ma to be below the double bottom neckline.
Any comments are welcomed!
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