The way ethereum have moved for the past 2+ weeks is classical. Expect a 22% positive move up in 1-3 days.
from the chart above, there is a clear impulsive move down, followed by a consolidation and then a smaller impulse. If you look at the purple llines, you will discover that a divergence has formed. The MACD, together with the way prices are lingering around the 3 moving averages, proves that this is a corrective move and a 22% boost in prices is inevitable.
SHOULD YOU BUY?
If you are experienced and can place tight TP, you might. but if you aren't an experienced trader, I wouldn't suggest you take this trade. Even though we will see a 22% to 25% move up, the price could come down fast after that.
WHAT WILL HAPPEN AFTER THIS MOVE?
Well, get ready for another very sluggish fall after this move up.
