Ethereum has been consolidating for awhile after its big run from the mid 50s to high 90s. But is about to start the next move up very soon...
This was the most recent big triangle break. You see in the yellow bubble is where the triangle ends and it starts with a slow grind up breaking through the upper diagonal line. It starts to shoot up and does the a very small pullback before breaking the all time highs on the green line. After the green line breaks, we see a massive move up!
This is the current chart as of right now. We see a more volatile triangle which has made some severe wicks down. Some caused by DDOS, Bitcoin rocketing up, and also always profit taking. You see that all the wicks down were bought up VERY fast and also making higher lows. Amazing bullish sign and just right now broke the top of the triangle line. We have a lot of amazing things that are going to go hand in hand with this beautiful technical breakout soon. From my personal experiences, most of my friends never heard about ethereum. Only a few that know about it were those connected with finance and only after the amazing run up from 50-97. I work at a prop trading firm in NY and 90% of the traders only learned about altcoins (mainly just ethereum) only after seeing the high move. You best believe there will be way more people getting ready to buy ethereum on this next leg break out.
FUNDAMENTAL CATALYSTS SOON:
You can find the upcoming fundamental catalysts for Ethereum here at https://news.codetract.io/
To keep it simple it is very packed with event after event this summer! Specifically mentioning RAIDEN. Which to my understanding is similar to SEGWIT and we all know what has happened to coins that activated segwit ( massive upside).
THIS BREAKOUT IS GOING TO BE BIG!! 100's ARE ALWAYS A BIG DEAL!
I myself underestimated the breakout Ethereum had earlier from 50s to 90s. I knew Ethereum had a very high chance to move up, but I did spread my buying power around to smaller coins thinking that the smaller market cap coins have a higher chance of making bigger returns than the big market cap coins. I was proven wrong when I saw Ethereum move more than most of my other small market cap coins as well as the recent Ripple move. Ripple and Ethereum were butting heads for 2nd place market cap, but Ripple eventually won while draining the life out of most of the market. I was a bit upset about it at first, but all is well because on the plus side it further confirmed that big market cap coins can move very massively. It is also paving the way for what kind of big market cap moves we can expect out of Ethereum. Now with Ripple pulling back and a lot of the profit/money is going back to Ethereum we will see a breakout over 100 imminent. The 100 psychological level is definitely a thing and I expect it to break clean and not look back anytime soon. Only thing I am slightly worried about is Bitcoin because it is breaking its all time highs and might rocket and slow the action for Ethereum and other coins.
Thanks for reading guys. Looking forward to making money with you all!