Continued wedge on ETH/USD

14 בנוב׳ 2017

about to test the top trendline of wedge. looking for a breakout to second wedge layer or a reversal to stay within year long wedge pattern. been following pattern and accumulating ETH around bottom of wedge pattern. my gut says it will retract here. long for now, but ETH could have some fundamental issues that would cause a break to the downside. with the DAO and Parity hacks, it may come into question whether or not Ethereum is a viable platform for enterprise or merely a token of exchange for ICO's. If you look at volume in EOS recently and other platforms there might be a correlation. I could see a massive dump of Ethereum just as easily as a run up to all time highs. what does that do to current ICO's raising ETH when it goes up 25% or down 50%? With something as new as cryptocurrencies and the amount of volatility involved, it is important in my opinion to pay attention to the fundamentals in order to beat the crowd.