ETH is on a TEAR

ETH has been an absolute winner over the passed few months of trading with gains of +90% from the lows seen in December of 2019. With nearly all resistance levels breaking with ease Ethereum is seen knocking on the doors to +230. Will ETH have enough juice to punch its way through the 225 resistance and into seemingly "open air" is the question. ETH is in at the fate of BTC and the altcoin cycle. BTC is pressed up against 10k and has been knocking at the doors for some time. With the money flowing into ALTS and majors like ETH and LTC one must ask when will BTC get its turn? That same question poses another for us and that is does that money flowing out of alts hurt majors like LTC and ETH. Or does it go rather unnoticed until the participants start cashing out into fiat in which turn will definitely cause for a sell off across the board and new lows for Feb should be posted. Technically speaking we need ETH to sustain 215 on the LTF to keep intraday upside in tact. Failure to hold that level and I think that may be our signal for a TOP for the med term, or at least the month of February. If this happens support can be found at 185 then again at the 160 level in which I am fairly certain we will hold on a HTF close. Now if we manage to smash through 225 and on through 230 without a sign of a SFP then we will have to assume out right bullishness and ETH should hit a zone of price discovery. I am in favor of a top being sooner than later and some consolidation is needed to reset some indicators. Saying this though i would not be one to be setting up shorts to attempt to snipe a top, rather lets find some confirmation on the H1+ chart using Valley Range Theory rules or SRSI crossover. Remember to trade safe and always use a stop loss!


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