Ethereum would probably start an uptrend

3 de jan. de 2019

ETHEREUM/DOLLAR
Midterm forecast:
While the price is above the support 80.35, beginning of uptrend is expected.
We make sure when the resistance at 200.00 breaks.
If the support at 80.350 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:
There is a divergence in RSI and price between the trough at 99.03 on 2018-11-25 and the trough at 80.355 on 2018-12-07, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI resistance #1 at 62 is broken, so the probability of beginning of uptrend is increased.
While the RSI support #2 at 50 is not broken, the probability of price decrease would be too low.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 60.

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:

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