ETH indecision? where are we going ?

Oct 10, 2018

Hello guys, vOid here for another short update. Took me a couple days to make an update just because nothing really interesting happened to Ethereum.

So let's start from the breakout that happened Oct. 8.
So that day, we were able to breakout from that upper trend but as you can see we got a Bearish SFP, which brought us back to upper trend support. We found support on that trend line and the market gave another try at that SFP. It got rejected again and dumped to that trend line support again, bouncing on it twice before breaking it.

What this tell me is that the second time we hit the upper trend line, there wasn't enough liquidity so stop-loss got liquidated, that why the small bounce before dumping down to lower trend.

Now that we are back to the major trend (lower trend) you can see on both bounce that the SFP was bullish.

So here's my list of what to watch :

• We are currently stuck at the tip of the Symmetrical Triangle, with a bullish SFP, I expect a breakout to atleast yellow line.
  
  
• We need to break the yellow line and re-test SFP (white dotted line 231.50) and close above it with a bullish sign to go bullish long-term here.
  
  
• There always a possibility that we just fakeout break yellow line to get stop-loss and dump afterward to break red line.
  
  
• If we do break red line, this a bearish signal to me that we are going to dump to red box or even green box.
  
  
• Volume is at a lowest point, it's a sign combine with the Symmetrical Triangle that a move either UP or DOWN is coming.
  

Stay safe, wait for confirmation signals and happy trading !

vOid

P.S. Still improving my english and this platform is the perfect things for me to improve. :D