Gaze upon the following bitcoin chart for reference. The price action paused and retested SMA all along the march up basting through the 200 and resting on getting rejected from the 300, bouncing above and spending 4 days in may just beneath it and then it plowed all the way to the 400 where it took a rest. It plowed relentlessly until it took a rest at another MA. Now its just diamonding up.
ETHUSD is doing the same thing, but its got more MAs above it. It got rejected from the 400, its moved sidewayish to consolidate. I expect it to pop above the 400 (approx. $280), re-test it and then plow to the 500/600 MA, reject, retest and then Moonville. If I had to say when I'd say its going to be when the Stoch RSI goes below 'oversold' and then bullishly crosses the k/d. Id Also say when is related to when all the other coins start sorting themselves out.
Ripple hasn't even had its SMA golden cross. Once these SMAs sort themselves out bitcoin and the larger market is going to go bonker.
Not advice, a blog.
ETHUSD is doing the same thing, but its got more MAs above it. It got rejected from the 400, its moved sidewayish to consolidate. I expect it to pop above the 400 (approx. $280), re-test it and then plow to the 500/600 MA, reject, retest and then Moonville. If I had to say when I'd say its going to be when the Stoch RSI goes below 'oversold' and then bullishly crosses the k/d. Id Also say when is related to when all the other coins start sorting themselves out.
Ripple hasn't even had its SMA golden cross. Once these SMAs sort themselves out bitcoin and the larger market is going to go bonker.
Not advice, a blog.
