prodigy81

ETH: Fractal - target aprox $1600 before February (or not)

Long
BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Just my point of view. NOT TRADING SIGNAL.
In a few hours, we have confirmation (or not). The breakout above or under.
Ascending triangle might promote this pump, but volume no.
Comment: I didn't explain but this fractal has to be "stretched". As you can see there's a difference of 24h on the Lower Low.
I hope that this Fractal Chart will justify how we'll go to the north side on the ascending triangle (orange).
Comment: and here we go.... :-)
Comment: I just saw the next resistance levels and we might have trouble on $1320-$1350.
Will be bouncing 3 times between 1270 and 1350 then will drop 15% (another chance to buy) or just hodl.... Because then we'll pump till $1600.
(you can see the chart for yourself)
Comment: If you hit the play button (only available on the computer / not on the APP) you can see that we are following the chart. I'm astonished by this fractal chart. So because we have a HH and HL we can try to calculate when is going downwards 10%-15%. I even think that ETH is taking the wheel because BTC is on a BIG "descending triangle" and will suffer soon a big drop and I believe that will be this move to buy ETH with BTC. Both are strictly connected and I believe that's what's justify both signals (BTC: descending triangle - big "healthy correction"; ETH fractal with pump).
PS: in aprox. 8h30 we will have a drop of around 14% (last fractal, but this new waves have a range of 3%-4% instead of 6%-8%, so eventually the drop could be only 7%-8%.
Again this is only my thoughts, not trading signals. I'm hodling.
Comment:
Comment: Let's see if it's going to drop (to around $1230) for the next 2h30 (it might be a sudden drop).
Comment: While I was worried to confirm this "fractal" chart I didn't saw this inversal head and shoulders pattern being confirmed:
I don't have much more to say, but either way is going up and we must stay happy for that :-D
Comment: Hello
Now we are experiencing the "big drop" so I got back to my fractal to compare the size with the other drop of around 15%. And guess what, they match each other :-D so it's even better news! Do you also remember that I've talked about the 24h of difference on the Higher Low. So there's also this difference on this new ATH, and if this fractal is again "confirmed" and my target is not anymore$1600 but eventually around $2000. As you also know this is "speculative". Take your own decisions and make your own research.
Comment: Yes... 2000 before February (eventually):

Comments

Great chart, you still belive the low will come?
Great comments.
Thank you
+2 Reply
prodigy81 Jboeboe
@Jboeboe, yesterday, when I was posting this chart I honestly didn't believe that it would go up because chart was really about to breakout to south and was reading a lot of charts/post that was stating "short" positions. I just posted to check if it was really a fractal and until now, despite some "deviation" (but it's keeping the same number of ups an downs) - you just have to move a little bit to left or right, but as you can see (if you hit the play button) that it's following fractal chart. I don't know why is going down, just to check. At this moment I believe that we are on a "triple top /bottom" and by investopedia: "A triple top formation is a bearish pattern since the pattern interrupts an uptrend and results in a trend change to the downside." Low until $1227.
+1 Reply
Jboeboe prodigy81
@prodigy81, Thank you for your kind explanation.
Reply
wadahup prodigy81
@prodigy81, Have you noticed the HNS pattern developing on the 1H chart? do you think this is what you're expecting to happen? There is a rising wedge too and that's another bearish indicator. Idk, I've seen a lot of short posts on here yesterday and I still don't understand the pump that happened yesterday. Like, I was watching the bull flag forming and was in disbelief...
Reply
prodigy81 wadahup
@wadahup, exactly I was also disbelief. I even only bought some ETH after the resistance was crossed on the upside (a little bit too late, but waiting for the confirmation). I was following the chart since it was almost crossing the diagonal resistance of the "ascending triangle" and I was like you @wadahup.
No, I didn't noticed HNS pattern. I'm still astonished by this "fractal chart" and if it drops in the next 2hours (correlated with this "rising wedge / tripple top" timimng), that's a confirmation and it will hit NEW ATH and "stop" around $1600 before February.
Reply
wadahup prodigy81
@prodigy81, Yeah, I'm going to watch it closely in the next 2 hours and see if a drop is imminent. Keep us updated, I'm still watching your TA... much appreciated :)
Reply
prodigy81 Jboeboe
@wadahup head & shoulders confirmation
+1 Reply
wadahup prodigy81
@prodigy81, Yup, good call... a correction soon?
Reply
Jboeboe prodigy81
@prodigy81, Good call!
Reply
prodigy81 Jboeboe
@Jboeboe, better late than ever (the low). Maybe last chance before hit 2k, who knows!!!
Reply
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