ETH - Decisive situation
Normally my ALTs ideas are published as private, but will output this one out there so you get a sneakpeak of my reasoning.
Ethereum is in an almost bullish place - We have 2 big descending wedges here - the bigger one which got faked out to the downside and price got back in, and the lower timeframe one, which got broken during last consolidation. My reasoning here is the next one: BTC/SPX seem to be consolidating and willing to go up, SPX and VIX are backing up this idae. Monthly results like NFP are also bullish for the markets. Technically, Ethereum can now move in either of the 2 ways - directly to the target of the smaller wedge - which would be a breakout of the big wedge, or go for the retest of the smaller wedge and then retesting the top of the big wedge again. Withough fundamentals leading us down (so far there is nothing new on the horizon ) the bigger wedge could get broken - and it's target sits at 4,000$.
Really great time to start investing in ALTs, in case of a drop - sell them and rebuy lower, but the opportunity for a last bull run sits before our eyes.
Good luck!
Ethereum is in an almost bullish place - We have 2 big descending wedges here - the bigger one which got faked out to the downside and price got back in, and the lower timeframe one, which got broken during last consolidation. My reasoning here is the next one: BTC/SPX seem to be consolidating and willing to go up, SPX and VIX are backing up this idae. Monthly results like NFP are also bullish for the markets. Technically, Ethereum can now move in either of the 2 ways - directly to the target of the smaller wedge - which would be a breakout of the big wedge, or go for the retest of the smaller wedge and then retesting the top of the big wedge again. Withough fundamentals leading us down (so far there is nothing new on the horizon ) the bigger wedge could get broken - and it's target sits at 4,000$.
Really great time to start investing in ALTs, in case of a drop - sell them and rebuy lower, but the opportunity for a last bull run sits before our eyes.
Good luck!
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