ETH - May the BULLS be with us!Okay, so ETH did a classical bullish sign to us, a bullish engulf near a strong support area, made of 1 - the 21 ema; 2 - the purple trendline; and 3 - near the black line (previous top). Our last trade here was a very good one, we long at that “Harami cross” in the chart all the way to the 61.8% fib retracement, the links about this trade are all bellow. Also, I invite you to follow me to keep in touch with our trades and analyzes.
Now let’s see the hourly chart:
Here we find a reading similar to the daily chart, and I’ll stress how important will be for the bulls if they manage to keep the price above that blue line, which is the fib retracement. There’re some supports here, like the green line, the pink line, the black line, and finally, the purple trendline. Now, the weekly chart:
As I’ve been saying, yes it bugs me a little that the price is near a fib retracement, but we can’t discard a “V” pattern here. The bulls seems to be very strong, and the trend will continue until a clear reversal sign occur (as Charles Dow used to say). Meanwhile, we are long here.
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Thank you very much.
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