ETHUSD Needs to break 600 to Indicate Bull Run

19 Apr 2018

Here are my thoughts. ETHUSD still trading below downtrend line since December (on log chart - left) just like BTCUSD. 50 EMA at $550 and 200 EMA at $600. On 4 hour arithmetic chart - right, H&S pattern looks like it's finishing the right shoulder. Volume is also falling. We're still bearish unless ETHUSD can close above $600. We could be consolidating now before testing the 50 and 200 EMA. I'm staying out of the markets until $600 is confirmed.