EuroMotif

ETHUSD approaching key Zones: Ethereum supports to watch.

COINBASE:ETHUSD   Ethereum / U.S. Dollar
ETH is approaching some key support zones.

This crypto dump may have been caused by Bitmain news, that the founder/co-ceo Jihan Wu has resigned or was fired.
But then again, crypto does not ''need'' a reason to dump or spike. Yet the timing of that news hitting internet is too close.
Or maybe it was caused by the ETC hack that others have proclaimed to the be the cause of latest Bearish move.

Regardless, I just measure the "Impulse".
Which provides a forecast of the "Ripples".
The ripples then determine the "Waves".

Currently it seems we have one more leg down to go.
The Red fib plots the Ripples from the Impulse at 160.
The Green zones are confluences of various ripples.

Lets see how this plays out.
I will be watching the zones.
I will update as price moves.

.

.

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
So next was plan to look for retrace zones to buy back in:
Then I saw a distinct resistance that should have been harder to break:
The above ''Line in the Sand'' broke, but I dont think it should have. So am now expecting a retest
Comment: Almost there
First zone was breached, now acting as resistance
Comment: A wee bit of a good sign, it did not cut directly through second zone but probably will. Hopefully it will reduce the velocity enough to allow next zone to rebound it.

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Comment: Ping ...
Comment: ... Gave proof through the night that our flag was still there ....
Comment: 4.236 still a fightin
Closeup shows the zone to be definitely relevant
Comment: Bulls trying to re-establish support zone and boundaries. But upper boundary was pierced after an exact rejection. Not a good sign for bulls.

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Comment:
Comment: Bulls have made it back to the previous support zone above, but now it might become resistance. The two zones may well trap the price for a while, which could then break out of either side with force.
Comment: valiant bulls piercing thru an important zone
Comment: ETH 1 min chart lol, but sings of possible temp bottom. 1.618 extension a common ABC retrace
Comment: so back in EHT 1 min microscope, looks to be at an important price
Comment: TH bulls got some help from BTC buyers, and were able to break out of the green Fib zones
Closer inspection shows a near perfect 4.236 wave. Now trapped under the 3.618. Bulls need to hold at least the 2.618 to keep the local uptrend going.
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Comment: bulls need to right here and right now
Comment: ETH bulls: nice! 136 still looks probable
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Comments

Well
Don’t know

I’m all cash
Reply
What u think now !?

Cheers :)
Reply
@meveme, am thinking bulls need to right here and right now
Reply
Not looking good :(
Reply
@meveme, Agreed :(
was hoping for a little more gradual grind into the zone ....
Reply
meveme EuroMotif
@EuroMotif, what u think about TRX!?
Any advice when to enter !?

Possibly below 600
580 May
Binance

Cheers
Reply
@meveme, I am watching TRX/USD for around $0.018xx
Reply
meveme EuroMotif
@EuroMotif, well missed the trains on the last run
Didn’t get it at .21

Reply
meveme EuroMotif
@EuroMotif, too many short at 720 btc
So it’s not worth and dangerous zone to enter
Reply
A full bag of ether

Let’s see

Too many shorts in every exchange :(
Reply
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