ETH finally confirmed the uptrend market those last hours. First it broke the descending trend line while crating a uptrend channel, then it broke that channel up, it tested its roof before taking a big jump to the next resistance zone that I drew on the graph.
Let鈥檚 not forget from where those resistance zone come from. Some may be stronger, but they all showed some pretty retaining situation in the up or downtrend market that we live since April this year. Regarding the RSI already showing signs of overbuying zone and the MACD that grew so high so fast, it is confirming at the moment the strength of the actual resistance.
On the daily graph, it is just arriving on contact with the Ishimoku鈥檚 cloud. This may also show some resistance as we haven鈥檛 been in contact it since two months.
All together, my guess would be that the bull market is coming back and we must stay alert for any signs of consolidation between the resistance zones. Those movements represent perfect buying zones.
My last advice would be to stay careful and never forget that we must not see on the graph what we want to happen, but we must read the graph as it comes and prepare some safeties on the way. We easy lose control of reality in an uptrend market and then lose loads of money we could鈥檝e saved !
So fasten your seatbelt and enjoy the ride !