Ethereum Daily Dose 3/14/19

15 mar 2019

ETH’s price action is very similar to Bitcoin’s but with a few slight differences. First off, there was the similar pump that led ETH to move to $170 and then a precipitous drop to the 140s range two weeks ago. Then there was a similar belly that was formed which looks like a Wyckoff Re-accumulation as well. However, one of the main differences is that this price action looks a lot better than Bitcoin’s in terms of going in a long position. I will refer to my yellow line and my purple line as EMA1 and EMA2 with the yellow being a shorter time frame and the purple one longer, respectively. EMA1 is finding some nice support and we are consolidating within a micro range, that hasn’t fully completed a macro range. But if we hold this range here, we have a good shot of at least re-testing $150-$170. I am still long from around $131 after taking some profit but that being said, my stop loss is $131. There is a strong possibility that this price can still be going to the $113-$118 range, but if that breaks, the sentiment will be bearish to me.