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With all the excitement in the Bitcoin market recently, I have not paid a lot of attention to Ethereum. However, this asset deserves our attention. It is signalling that a new advance might be in the making. Let’s look at a bear setup on long-term 2-day chart:
This bear setup from the ATH shows 2 successful tests of support at the 1st arc pair. I don’t imagine I need to explain here why this bullish. However I want to point out that the blue arrow is highlighting a test of the 1×1 Gann angle. The 1st test of resistance was unsuccessful (from a bull point of view). However, price is once again testing the angle as these words are being typed. If/when we get a close above the angle, we will have a(nother) buy signal on the long-term chart.
Let’s look at the same chart, with a bull setup from the launch of the coin’s trading:Read more ... source: CryptoCoinsNews
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