ANYWAYS, sorry about that. So, my last TA on Ethereum was actually pretty freaking funny. I called a low of $745 when the price was like $1,100. And it freaking went up another $400 to $1,500 hahahaha. And the funniest part was that after it went to $1,500 it dropped and hit my target. Pretty freaking funny.
Well, a lot of holders probably aren't smiling right now. BUT, we should have reason to very soon. I'm counting an ABCDE correction with a pretty straight forward count here. We have this massive sloping resistance line, but I bet that we murder it.
HOW LOW CAN WE GO:
I'd have to say that its possible we can reach as low as $550 based off of extensions. But looking and some indicators and the .728 fib level, its possible we reach the very top of that yellow box. Dude, if it hits the yellow at all. That is a sure fire buy! Keep in mind that it's possible we hit this long-term white line as well, if it touches it, expect it to snap up pretty hard.
HOW LONG WILL THE UPTREND TAKE:
So, after big drops like this, Ethereum tends to snap up pretty hard, but take its time on the first few waves. I don't expect it to outpace many other coins in 2019. I think we can possible get to $2500 by the end of this year. But I'd stay a bit conservative and just look to a target of $2,000.
HOW DO WE KNOW IF WE'RE ON AN OFFICIAL UPTREND TO THE TARGET:
On the , take a look at the 8, 13, & 21 EMAs. If we can get all 3 to fully CROSS over the 55, then we can confirm an uptrend.
WHAT CAN HAPPEN IF THIS GOES WRONG:
So we're ending an ABCDE correction. BUT, failed breakouts can very well happen. If we get a failed breakout, then this correction could continue through June. But I don't think its quite likely for us to get much lower than where we are today.
Well, it looks good guys. I'm liking what I'm seeing here. It will probably be a slower pace than what you all have seen in 2017, but it'll still be a very suitable investment!
Good luck guys!
With a closer look at whats going on here, we see that we're on this last 5th wave, and within that 5th, we can look for a 1.618 extension for the most recent 1-2 subwaves. That leaves me to a low of $550 before we begin to move up! Indicators are showing to be pretty bullish as well :)