ETH/USD Forecast December 18, 2017, Technical Analysis

The Ethereum markets have been bullish during the day on Friday, after initially trying to go sideways in general. Overall, I believe that this market will continue to go higher, and you can see that I have a bullish flag marked on the hourly chart, suggesting that we are trying to build up the momentum to go higher. Based upon the flag, we could go as high as $1000 over the longer term, but obviously that’s not something we will see today. I think that short-term pullbacks offer value, and I believe that the $600 level underneath should be the “floor.” The markets continue to be very noisy, but I think that if we do finally get the breakout, this market can take off like a rocket.

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I believe that the noisy conditions in this market will continue to be a major factor, so you will have to be able to deal with this market going back and forth. That is a perfect recipe for buying the slowly, and on the dips. I would buy slowly, add slowly, and be very patient. I believe that if we break significantly below the $600 level, that would be a very negative sign, but right now I don’t think it’s going to happen. By adding slowly, you can continue to go to the upside over the longer term, and you can enjoy the uptrend without risking too much. I soon as the markets prove you crack, then you add to that position to accelerate your gains. I believe that the crypto currencies are overbought in general, and Ethereum of course is no different. However, even bubbles go longer than people anticipate.

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ETH/USD Video 18.12.17