First day in Shanghai, as you understand =)
Generally, we are preparing the next slightly updated version of http://santiment.net, based on what we learned in this iteration. The response till now is positive and strong. The author has now full hands of things to do. Luckily there are already few people who are actively helping. The next iteration is planned for the middle-end of the next week.
Today and tomorrow we can talk charts again. First ETH and then tomorrow XMR.
Basically, they both are at the decisive point, XMR seems to be finishing its correction where ETH is trying to jump up.
The author present a slightly bearish view today. Having enough positive news, let us be critical and contrarian.
Basically, the bullish case for ETH demands the break up of the slightly falling down trend line. As long as it hasn’t happen, there is chance of another drop.
This is also because there is a visible 5 waves structure down:Unless the red line is broken, there is a good chance to go down one more time.
Let us wait one more night (Chinese time) and see. If needed, we will update the ETH situation tomorrow and for sure will also talk about XMR. There seem to be the next good opportunity to buy in the progress.
Enjoy your day.
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