Ethereum is reacting off of its long term trendline. And is poised to continue upward, where it will face resistance in the 160-200 area. It will then be rejected, and we will more than likely fall to our final support area for likely accumulation, around 50$.
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Comparison to Amazon...….crazy right????
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We are clear to go...
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One of the best lessons I was taught is when analyzing, ALWAYS LOOK LEFT. As you can see, OBV supports this entire idea. And if volume precedes price action, then this is where your eyes should actually be.
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Looking for a close above this Pivot.
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I also believe this would technically indicate that wave 4 is a triangle, and we'd still be awaiting wave 5 down. Which would make perfect sense overall.
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Just wanted to say thanks to those that have reached out. I'm glad you've made some money, and I'm also glad to see you've utilized common sense.
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Zooming back out to the weekly again, you can pretty much see where this is going to end, as we'll once again hit another long term trend line as you can see.
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Here you can see it on the daiy, with maximum price appreciation hitting the 200ema at best before rejection. Remember, we're still in a bear market until otherwise signaled.
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I'm certainly going to be on the look out for a large wick around these parts indicating large sell pressure from above.
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Laguerre says we are getting near our top, as we sit @90, with max obviously being 100.
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That other major red area was approx. 160$usd
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I have another gem for those that have kept up here, and I hope it ends up playing out. AUG 2018 is the fractal I'm using here...
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We're either going to find support around the .786/.886 or we're going to probably retest bottom structure.
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This has still not been ruled out, need volume to expand though up the shoulder from here if it's valid.