Ok, can we PANIC NOW?Hello guys! Oh, no, it seems ETH is doing a Harami under two important resistances! Ok, let’s see if there’s reason to worry here, in this analysis. First, follow me to keep updated about our trades and analyses, and support this idea if it helped you. I’m every day here, I do daily analyses about some cryptos, and I know you’ll find something interesting.
Yes, it’s true, ETH is under a strong resistance zone, under the orange and purple line. But what can we expect here? First, ETH can just pass through these supports if the bulls are strong enough, and I wouldn’t be surprised, because it seems they ARE strong. Second, we can also expect a pullback, and the price could drop back to the 21 ema, or even the black line at the U$ 190 again, near the point we long, and our profits would be wiped out if this happens. But we can always look at the hourly chart for more clues:
See, there’s no reason to panic at all. Despite the daily chart, the hourly chart is bullish to me! Yes, it has yet to break out its resistances, but also ETH respected with technical perfection this green line we draw yesterday. Now, I’ll speak for myself, you guys know that I sold half of my position yesterday (link to my previous analysis below) and I would only sell my remaining position if the price close under this green line.
There’s nothing to worry here, the chart is still bullish. But, let’s keep our eyes open and see how the bulls are going to react now.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
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