Bulls In Command!! -- Higher Lows Now Needed -- We Still Need To Remain Cautious
We're eyeing down a close of a daily bar up over 15%! This is huge and a great sign. Additionally, we haven't seen tapering bull volume -- volume for the bulls has been steady and constant with increasing volume on the rally with nice consolidation in the shorter charts.
Although this is an amazing sign and set up for the bulls, we still have to be cautious. The bears own the market on the longer scale and we might be worried about a bear flag. The bear volume climax on the daily bar might signal the low though for the time being.
I really can't say enough good things right now about this chart set up for ETH. We're looking very bullish and I think there's a lot of upside potential for the next couple weeks at least. I would actually be a bit shocked if we don't see a rally up and test of $500ish or so. That's definitely not a guarantee though -- however, I do see it extremely feasible.
Thanks for the info , still cautiuos
yep -- definitely. Bears still own market, but this chart set up is all good signals for a nice bounce.
it does feel like ETH is long overdue for an extended rally, but I'm feeling cautious too. Nice analysis, as always!
thanks! yea we're definitely still down trend unless we can break the cycles on the longer charts.