Not very familiar with the Gann, but wanted to see if my application of it's 45-degree angles would support this idea.
I think we've seen a bottom to BITFINEX:ETHUSD after seeing a close to full retracement around $165 from ATH's. Either way, I'm bullish with a target on the daily between $234-256 in the upcoming days. On the weekly, the target is looking to be a 2X from here.
I'm long from $171, so giddy up
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Target 1 hit.
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Sold half my position to set some lower buy orders around $200 to pad my original entry @ $171.
Looking to 350ish as the next leg up as we cross into bullish territory.
Sidenote, I love the Gann.
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Gann remains in tact still. Had a low buy around as noted above @ $189. Will monitor over the next couple of days to see where the markets heading.
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Bbands are getting tight on the daily with looks to bounce to ~218ish.
The only thing that might push this sideways nonsense a few more days is that the 4hr looks to be very overbought on the toch. Might revisit that a drop to 180ish
I personally don't intraday trade, so will be waiting alongside everyone else to see if we'll be mooned or doomed.