As BTC the ETH-token finished the long corrective wave -C-, but I didn´expect it to go so deep as it happened.
Taking the opening of the last triangle and copying it to the outbreak I should have been warned - because it´s exactly the same difference. Sometimes one don´t want to trust the own analysis - this has been the case in my situation. So, sorry for that.
In fact Ethereum fell on the next support-level, the fib retracement Zero (~ 134$) - a price - level we saw last time in july 2017.
While the volume in BTC had been steadily low, this hasn´t been the case for ETH (and other alts). Also the RSI had shown much more volatiliy on the up - and downside. And the chart pattern triangle has been neutral.
In conclusion the analysis for ETH hasn´t been so clearl as for BTC.
Now, with ETH on the level of july 2017, I think we can expect the price to go higher. In a first attempt it shall reach the price about 200$ and in the longer run prices around 440$ (fib retracement 23.6%) - I´ve drawn one possibility which will have to be adjusted from time to time.
The risk on the downside is the breaking of the actual and very important support! If this happens, ETH will probably drop on a price around 90$ - a loss of more than 30% from today!
This is no trading advice.
Taking the opening of the last triangle and copying it to the outbreak I should have been warned - because it´s exactly the same difference. Sometimes one don´t want to trust the own analysis - this has been the case in my situation. So, sorry for that.
In fact Ethereum fell on the next support-level, the fib retracement Zero (~ 134$) - a price - level we saw last time in july 2017.
While the volume in BTC had been steadily low, this hasn´t been the case for ETH (and other alts). Also the RSI had shown much more volatiliy on the up - and downside. And the chart pattern triangle has been neutral.
In conclusion the analysis for ETH hasn´t been so clearl as for BTC.
Now, with ETH on the level of july 2017, I think we can expect the price to go higher. In a first attempt it shall reach the price about 200$ and in the longer run prices around 440$ (fib retracement 23.6%) - I´ve drawn one possibility which will have to be adjusted from time to time.
The risk on the downside is the breaking of the actual and very important support! If this happens, ETH will probably drop on a price around 90$ - a loss of more than 30% from today!
This is no trading advice.
Order cancelled