ETH price action is finding support and advancing through important FIB levels
Extrapolation of a similar sized move takes ETH to 0.0868 BTC or c. $100 which makes sense.
Extrapolation of a similar sized move takes ETH to 0.0868 BTC or c. $100 which makes sense.
Comment:
Traders should look to s/l on or below the (A) and t/p at levels which meet your risk reward strategy - if you can hold on to the 0.0868 BTC target you are looking at a very healthy risk reward ratio of close to 6/1
Comment:
BTC Broke out and so this pair is now retesting 0.618 of the extension.
ETH has gone with BTC in USD terms so damage has been limited to this trade.
I expect ETH to range between the 0.5 and 0618 fibs in the short term. The long term targets are still very attainable.
A failure of 0.5 would mean looking for a short entry and the Head and shoulders pattern being an option to trade.
I am not bullish BTC fundamentally until the issue at finex is resolved. However the prior idea shared for BTC will be in play should the $1050 range be overcame with volume.
Going to let this trade ride out and act on breaks.
ETH has gone with BTC in USD terms so damage has been limited to this trade.
I expect ETH to range between the 0.5 and 0618 fibs in the short term. The long term targets are still very attainable.
A failure of 0.5 would mean looking for a short entry and the Head and shoulders pattern being an option to trade.
I am not bullish BTC fundamentally until the issue at finex is resolved. However the prior idea shared for BTC will be in play should the $1050 range be overcame with volume.
Going to let this trade ride out and act on breaks.
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we're off !
Comment:
Good times coming
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