EuroMotif

ETHUSD targets reached: Ethereum re-entry zones to watch.

COINBASE:ETHUSD   Ethereum / U.S. Dollar
ETH topped at the Green 4.236 fib extension.
I did not have time to post an idea, but I mentioned its top in Crypto Chat as seen at this link:
https://www.tradingview.com/chat/m/fe31f...

Now looking for support zones.
Upon measuring the first dip from the 4.236, the green zones in live chart above are what I see for possbile re-buy.

.


Background:

My ETH journey started a Fib observation from the bottom
Once that played out, I was looking for the retrace zones to enter long again
Above zones played out and as bounce progressed I saw 152 and 156 as possible targets
Then I saw the top coming, sold, and was looking for re-entry zones:
Got some long scalps in per above plan, then I saw another leg down to come
The above plan kinda worked, but ETH was more bull than I thought. So now that we have hit another top, watching support zones with current plan
Jan 05
Comment: I am suspicious of this first bounce. We need an ABC what I intiallly though would be ''Minor Support'' now looks likely to be hit, and perhaps even bounces from there. But I would still prefer to see the ''Good Retrace'' zone hit and then bounce with Vigor.
Jan 05
Comment: Here we are at the red 4.236 shown in last snap shot lets see if wave A ends here and we get a wave B bounce
Jan 05
Comment: Wave B looks to be under way now we just need BTC to make its wave 5 on this 15min plot
Jan 05
Comment: Spoiler: if you drag DOWN on the price scale (to squeeze chart vertically) you can see more zones above and below current window, like this
Jan 05
Comment: ABC in progress, might be starting wave B
Jan 05
Comment: Coming up a crucial price zone end of wave B? or is the ABC total BS and we just going up? about to find out here
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Jan 05
Comment: Here we are as expected some profit taking right off the bat. Now the question is: will Bears get in short on the back of Bulls taking profit ? lets see
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Jan 05
Comment: Possible rejection here. The piercing of the red 1.618 was a sign this might continue down
Jan 05
Comment: ETH struggling here as expected looks like a wave 5 up is finishing here
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Jan 05
Comment: Rut Roh, an EXACT reflection off bottom of this zone adding to my confidence in wave C to come
Jan 05
Comment: As feared, that exact rejection at bottom of Fib zone seems to be gaining momentum next important line is the red 2.618
Jan 05
Comment: ETH wave C down looks to well into the path. Loosing the Red 2.618 was a bad sign, after losing the blue 1.618 and confirmed at resistance
Jan 05
Comment: ETH 155 is the key price to watch rn pretty serious Fib confluence there, but I expect lower
Jan 05
Comment: Retrace plan still looking valid, or at least not invalidate yet am about to pass out, so am placing laddered buy limits in my expected bounce zones now...
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Jan 05
Comment: Finally, wave C happened measuring now to see if C looks done or not
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Jan 05
Comment: Test of 152 seems likely, 150 round maybe. If 150 breaks, next stop 146
Jan 05
Comment: All fibs still in sync. And showing a nice SL placement
Jan 05
Comment: Here we are starting to fill my ladder of limit buys down to 150 round
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Jan 05
Comment: I am thinking it was a stop hunt below 150. Proof will be if it goes back above 150 quickly.
Jan 05
Comment: This Fib still seems to be in control in my live chart and snaps, I ignored the 3.0 Fib, because it is not very commonly respected. However, looking at the action around the 2.382 and 2.618, this appears to be the consolidation zone and thus every fib line has signficance.
Jan 05
Comment: ETH wave count looks plausible for a completed ABC. Need to cross and hold that green 3.618 to confirm
Jan 06
Comment: Need to break and hold this green 3.618
with would confirm to bulls that correction is done.
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Comments

That is why you look at btc and buy or sell. That way you only chart once and run with all the rest. I entered eth at 81 and holding. Most don’t seem to understand how I manage to almost double my money since December while others get happy with a few bucks here and there. :) when btc shows weaknesses I will sell eth until then I’m just holding all my positions.
+1 Reply
meveme ChartsOnTime
@ChartsOnTime, u r right
I Hodler from 117

But sometimes it’s also profitable to exit and re enter
Reply
meveme ChartsOnTime
@ChartsOnTime, of course re entry always the hardest part :)
Reply
@meveme, Well I have one account in coinbase gdax and one in bitfinex. bitfinex is for short trades. and coinbase is for a longer term. I just ser targets and walk away. alarms will tell me when hey hit targets and when I need to exit if my trade is going wrong. So far so good after hittin my sl
Reply
Btc looking terrible
Volume is worst ever

I don’t think we can hold much

What do u think !?

I just got out at 152
Reply
check out my take on eth.

Reply
I think it was bottom fishing if I am correct

But I still see going back there again :)

May be sell what we have and load there again :)
Reply
@meveme, Not looking good. This time of day is always bad for crypto and bulls appear to be tired :( But 150+- still wants to hold
Reply
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