ETH Post-Spike Analysis: June 6th, 2017
RSI needs to bounce upwards to continue this bullish trend, otherwise, a stagnancy of price is to be expected shortly. Possibly back to the $230's, if the support of $247 fails. Expect a short-term fall and then a consolidation phase to promote healthy growth before large MM's enter the market again.
The move ups been pretty colossal pretty fast. Whats interesting is most of the cryptos mirror this chart. Should be a good chance to increase position while we await new buyers.
Yes, I am seeing the cryptos having similar patterns as well. I am almost projecting a sideways move in ETH if the price stays below 260 for the day. Following both of yall.