ETHUSD Short to 160, before rally to high 300s
ETHs price activity since mid December 2018 has signified a break from the major downtrend we saw off of ETHs ATH and subsequent rapid depreciation. ETH has since then enjoyed a very strong uptrend with growing volume and bullish price activity. Now I believe ETH is set-up to show a repeat of the bullish activity in spring to early summer of 2017, which ETH saw rapid price growth to levels of $400+, but with this bullishness came volatility and after setting a new high ETH came down multiple times under 200.
Watching ETH get set-up for some long term growth and momentum, and the resistance it is running into as seen on the ichimoku cloud, I expect us to see a continued decline in buy volume until ETH goes below 150. After this point, I think we could see a rally from November onwards to the $400 price levels.
Watch for ETH to continue to decline along the edge of the Ichimoku cloud on the weekly chart. I believe now is an optimum time to for me to enter into a short position with a target of $160 or less.
This is not investment advice, you are responsible for your own investment decisions.
Happy trading!
Watching ETH get set-up for some long term growth and momentum, and the resistance it is running into as seen on the ichimoku cloud, I expect us to see a continued decline in buy volume until ETH goes below 150. After this point, I think we could see a rally from November onwards to the $400 price levels.
Watch for ETH to continue to decline along the edge of the Ichimoku cloud on the weekly chart. I believe now is an optimum time to for me to enter into a short position with a target of $160 or less.
This is not investment advice, you are responsible for your own investment decisions.
Happy trading!
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