Dear Viewers,
As we can see, ETH is still in a Bearish mood, we can see that thanks to the RSI still being under 50 and the MACD is down on the daily charts.
There is a possibility that ETH drops furthermore towards the 816$ If it doesn't succeed in going out of that yellow triangle by crossing upwards.
On the other hand, we will start seeing a bullish mood if ETH breaks the Purple dotted resistance level at 870$ that it failed to break before, but in order to make that happen, it has to get cross upwards from the yellow triangle as mentioned before. For now my mood is to neutral, if it breaks through the resistance level, that shows us that the bullish are trying hard, will they succeed in getting through the 870$ resistance this time ? We Shall see, but if its the case, ETH's mood will be bullish and full of momentum to continue its way up towards the next resistance level at 900$.
Until ETH breaks out of that triangle, I would not trade anything at this moment.
The market is, as always, unpredictable.
The only thing we can do is to try to figure out WHAT COULD HAPPEN.
Thanks for reviewing my first analysis on trading view, don't forget to leave behind any comments on what you think about this.
Raw_Blitz out.
As we can see, ETH is still in a Bearish mood, we can see that thanks to the RSI still being under 50 and the MACD is down on the daily charts.
There is a possibility that ETH drops furthermore towards the 816$ If it doesn't succeed in going out of that yellow triangle by crossing upwards.
On the other hand, we will start seeing a bullish mood if ETH breaks the Purple dotted resistance level at 870$ that it failed to break before, but in order to make that happen, it has to get cross upwards from the yellow triangle as mentioned before. For now my mood is to neutral, if it breaks through the resistance level, that shows us that the bullish are trying hard, will they succeed in getting through the 870$ resistance this time ? We Shall see, but if its the case, ETH's mood will be bullish and full of momentum to continue its way up towards the next resistance level at 900$.
Until ETH breaks out of that triangle, I would not trade anything at this moment.
The market is, as always, unpredictable.
The only thing we can do is to try to figure out WHAT COULD HAPPEN.
Thanks for reviewing my first analysis on trading view, don't forget to leave behind any comments on what you think about this.
Raw_Blitz out.
