ETH follows a similar chart pattern as BTC. Their correlation is quite high - at the moment.
As I expect BTC to fall in the next days, ETH also will fall to deeper prices.
First support would be at fib retracement 61.8% (637$) - which would also finish the shoulder - head - shoulder pattern.
IF the support can´t halt the movement then I expect the course to fall until the long upwards trend (pointed line).
Caution: if this trend line is broken as well and not regained, ETH would change from the bullish to the bearish trend.
MACD + RSI + Volume (neutral)
Will the correction continue in 2018?
I see a lot of risks around the world, the central banks have pumped the markets with billions and trillions of dollars, yen, yuan an euros - with only little results to see in the real economy.
The dept has risen at new highs; china for example has now about 300% dept of GDP!
According to the austrian theory we have inflation when the quantity of money rises - and that is the case. Price-inflation is also visible in assets as equities, bonds, housings, loans and .... cryptocurrencies!
What will happen if all bubbles burst?
In the last analysis I read the writers do not expect this event to happen in 2018. Let´s hope this - but be aware at the same time!
As I expect BTC to fall in the next days, ETH also will fall to deeper prices.
First support would be at fib retracement 61.8% (637$) - which would also finish the shoulder - head - shoulder pattern.
IF the support can´t halt the movement then I expect the course to fall until the long upwards trend (pointed line).
Caution: if this trend line is broken as well and not regained, ETH would change from the bullish to the bearish trend.
MACD + RSI + Volume (neutral)
Will the correction continue in 2018?
I see a lot of risks around the world, the central banks have pumped the markets with billions and trillions of dollars, yen, yuan an euros - with only little results to see in the real economy.
The dept has risen at new highs; china for example has now about 300% dept of GDP!
According to the austrian theory we have inflation when the quantity of money rises - and that is the case. Price-inflation is also visible in assets as equities, bonds, housings, loans and .... cryptocurrencies!
What will happen if all bubbles burst?
In the last analysis I read the writers do not expect this event to happen in 2018. Let´s hope this - but be aware at the same time!