When Lambo?
https://cryptoravness.wordpress.com/
It’s been a while, just been watching the charts which I assume you have been too. Past day or 2 we’ve seen a stop the dumpening, and entered a small uptrend. Went from the bottom of 6.4k and the recent high of 7.5k. So that’s been a fun ride for the most part but lets face reality before we start saying its a clear reversal. Most traders who bought at 6.4k should be taking profit now if you plan to scalp. If not, HODLING is always the one that yields the most.
Timeframe: 24 hr
Verdict: Overall Bearish, shorterm bull
Reasoning: Major support was at 6.4k, and the more recent support would be at 6.7k and the new shorterm resistance is the 7.5k. In terms of indicators, the Tenkan is showing resistance at 7.7k while MACD is showing a small convergence, wouldn’t say its completely confirmed yet, gotta wait a couple more days for that.
https://www.tradingview.com/x/qcM5ZFX4/
https://www.tradingview.com/x/wsSTrETV/
What we see here is the bounce from the Fib line 0.78 but we haven’t been able to break out of the downtrend channels yet. And because of that, I’m still not confident on this breakout. I know it’s a short one today, but it’s what I see.
But I’ll send some links on possible reason why it’s going up.
https://www.coindesk.com/ethereum-asics-means-whats-next/
https://www.coindesk.com/regulation-not-koreas-crypto-exchanges-pledge-market-cleanup/
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