[ETH] Ethereum update 17-02-2018. Minimum target 1230$
Ethereum has been in a corrective path as the rest of the market. Nevertheless bears are losing power and a new bull run is just starting. Same patterns can be found in several cripto currencies such as Bitcoin or Ethereum. Last few days a well-known pattern was taking shape, a Shoulder-Head-Shoulder. Even so, the prices is enclosed in a channel (delimited by purple lines in the picture) and I was wondering if the price could overcome this top channel. It seems like the prices is breaking this line a the S-H-S pattern could be easily achive:
If we zoom in a 4h chart, we can see this behavior more precisely:
Price is locating above the 200 exponential moving average (green line) which is quite good since now it is going to act as a resistance.
In order to confirm this trend change I would consider to wait until the price re-test the top channel (purple line) and if it does not break it down it would be a good chance to enter this market and buy some eth.
Did you find this post useful? Please UPVOTE/COMMENT/RESTEEM IT
THIS IS NOT FINANCIAL ADVICE, BE SURE TO ALWAYS MAKE YOUR DUE DILIGENCE. Investment in risk markets such as cryptocurrencies and other assets can lead to losses of money
Congratulations @aartor! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @aartor! You received a personal award!
Click here to view your Board
Congratulations @aartor! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!