Logarithmic - crossing point
Updated
Overall I'm still bullish on ETH but by looking for long term and bigger perspective on logarithmic scale - we might be in important point.
Although bounce seemed so far great but it's hard to believe that V/U shaped formation will take us straight to all-time-highs. Historically if new wave will be bearish and stop at higher low we should be on our way to another higher bounce. Personally I think that despite positive changes on moving averages we will test lows again just to really shake off weakest and most desperate HODLers. Although it won't be without again bad PR and doubts about stability and real potential/value.
So still long but maybe we will see still great buying opportunities. Same goes with ETH/BTC. Despite that I recommend already long positions but with tolerance for another down trend.
Aloha!
Although bounce seemed so far great but it's hard to believe that V/U shaped formation will take us straight to all-time-highs. Historically if new wave will be bearish and stop at higher low we should be on our way to another higher bounce. Personally I think that despite positive changes on moving averages we will test lows again just to really shake off weakest and most desperate HODLers. Although it won't be without again bad PR and doubts about stability and real potential/value.
So still long but maybe we will see still great buying opportunities. Same goes with ETH/BTC. Despite that I recommend already long positions but with tolerance for another down trend.
Aloha!
Trade active
Interesting! Important moment.
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.