ETHEUR bullish channelTwo bullish channels spotted (short and long term), major resistant level is at 200 and 220. I'm sure eth will test 230 level - if it holds that would be our new resistance point. 300 is near guys!
Hype
ETHBTC Long termDisclaimer: I am a bitcoin maximalist so i may be biased. Also, the market can stay irrational longer than you can stay solvent. Etc.
Anyway. At first glance the blue breakout looks solid since the candle on breakout has alot of volume. However a candle with alot of volume can also signal that buyers/bulls are getting exhausted.
The price behaved somewhat similar back in may 2016, followed by a big red candle.
The important thing here is to zoom in on smaller time frames to see if a top of sorts is forming. I may update this idea later with such a chart. End of the day if ETH experiences a similar glut marked with the pink channel, it will be interested to see where it finds a bottom. a new low versus the previous glut would be pretty bad. Im following this until end of summer. Have a nice day.
SNAP: Dont Follow the HypeYou dont have to be a genius to know there are better places to put your money. Investing in SNAP without any knowledge is simply gambling. We have the casino for that. Technical already pointing to the downside and the first move up was from the hype around SNAP. But looking at how profitable SNAP is, it isnt. A company can be good, but that doesn't mean the stock will be good. This is a simple 5 wave structure for the stock based on the IPO of $17 being future support. The support will bring price up to around $24, previous support now new resistance. From there we might see price go a little higher to attract late buyers. Then we will see this stock falls to new low.
