Ethereum vs Bitcoin (month of July 2017)

You know that old saying..."a picture is worth a thousand words" well...

First look at the 1 year trend line (thick green diagonal trend line). The lower one is for a future red candle stick wick to touch (the one I'm looking for ) and the top one is for the candle stick body to touch. In short: Ethereum needs to correct a little bit more before the whales take it to test the ceiling with authority. Of course we could have a break out (green dotted line) and then pull back to fair market value (Where the whales step in).

However, if you look at a BTC/USD chart, btc has actually broken out of its short term down trend (on low volume) already with a MACD buy signal in place. The price of bitcoin should trend higher for the time being because of this (could be a fake out).

As ETH pulls back to its 1 year trend line: Don't panic sell. This is extremely healthy for the long term. Lastly, look at the volume on the chart. It has come to nothing, only small money players are punching and getting no where. Big volume is coming soon regardless and the market direction will be known. The vision of Ethereums price correction could all be up in smoke if the Whales decide to take the green dotted line to last months highs... or if the US stock market tanks (which should be soon).

The red box on the MACD = no long term buy signal yet. The short term moving average must cross the the long term moving average. But all tech indicators lag.

Conclusion: Not exactly a thousand words, but a long term trend line is often over looked. I learned from multiple professionals in the traditional markets and rule #1 for swimming pool fun = Look at the widest time frame first and work your way in to trade with market direction (trade with the whales). A 5 min day trader can not know where the price is going unless he/she looks at a 1 hr...1 year....5 year....10 year....20 year chart first. I'm going to post a 20 year S&P500 chart next. To show everyone on here whats to come to the us markets in the following months.

Let me know what direction you think Ethereum will take in july and let me know what chart you would like to see posted next.

Disclaimer: I'm not your financial adviser or trading adviser. Trade at your own risk. Don't sell all your ether and buy shit coin. Eth at $260 is still cheap for the long term.