We published ETH analysis back in March 2022. Back then we did the analysis not because we wanted to trade it but because we wanted to verify our hypothesis. We would say, it kind of verified our hypothesis.
What happened was ETH broken above our fibonacci extension golden pocket and touched the fib speed resistance fan 0.618 line. After that it comes back to our golden pocket as a retest and bounced back.
What is happening right now?
We added new Fib Speed Resistance Fan based on the weekly swing high and low. We found that ETH broke out of downtrend 0.618 line a week ago. You can also see that this line is now acting as a Support.
From here, we are ready to take off to 0.08 area in coming weeks/months. I would like to guess it would be in June/July.
What is the risk?
Due to general market conditions, there is a small risk that it might broke below the golden pocket and retest to lowest level of Fibonacci Channel (marked with yellow rectangle).
These analysis and studies are not financial advices.
What happened was ETH broken above our fibonacci extension golden pocket and touched the fib speed resistance fan 0.618 line. After that it comes back to our golden pocket as a retest and bounced back.
What is happening right now?
We added new Fib Speed Resistance Fan based on the weekly swing high and low. We found that ETH broke out of downtrend 0.618 line a week ago. You can also see that this line is now acting as a Support.
From here, we are ready to take off to 0.08 area in coming weeks/months. I would like to guess it would be in June/July.
What is the risk?
Due to general market conditions, there is a small risk that it might broke below the golden pocket and retest to lowest level of Fibonacci Channel (marked with yellow rectangle).
These analysis and studies are not financial advices.
