EuroMotif

ETHUSD ready for another leg UP? Ethereum's Line in the Sand

COINBASE:ETHUSD   Ethereum / U.S. Dollar
Looks like an ABC correction might be done.
The key price is 152.74 at the green 3.618 Fib.
That Fib has been in control of the entire move .

If bulls can break and hold (prove as support) that 3.618 then next leg up should start.

.

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:
As per above plan, sold at 160 and wondering if correction is done with the current plot:
Jan 06
Comment: We have a break. Now we need to see it establish as support
Jan 06
Comment: Here we go? local higher high would be a great start
Jan 06
Comment: Good sign: bulls recognized the importance of 152.74 and are trying hard to hold it. still no higher high though. A new high and then confirmation of the last high as support would be a GREAT sign.
.
Jan 06
Comment: Bulls trying again I think it may well hold.
.
Jan 06
Comment: Rut Roh ETH bad sign that bulls could not hold the line :(
.
Jan 06
Comment: IMPORTANT (and long) UPDATE:

ETH broke out of that pesky 3.618 and ran smack dab into the 4.618.

So taking a closer look at the main move on 1 min reveals quite a bit, see notes on pic.
Zooming out a bit I see one more possible fib It seems plausible but not solid. At the least there is another zone of interest which I guess we didnt need fibs to say, (near 160 round, duh). But we have the precise range now.

All in all, I am NOT impressed. This shift in ETH looks like gravitational effects of BTC. It was dragged along, not making its own momentum.
Jan 06
Comment: That red zone we defined above is clearly relevant
Jan 06
Comment: And THAT folks, is how RESISTANCE is made I have no idea what else is at 157.14, like pivots or ma's or trenlines or etc, but that blue 2.618 pointed to it and the older but stronger 4.236 is now backing it up. Not to say it wont break, but the Fibs told us WHERE to watch, and we will know what to look for next visit here to 157.14 EXACTLY. sweet.
Jan 06
Comment: Resistance it was ok enough with that. will look for possible bounce zones now.
,
Jan 06
Comment: ETH first glance says 152 should be support but that resistance zone above is pretty close and was proven.
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Comments

Take a look at my chart!!



Reply
Ether/btc chart weekly is looking great

I see massive potential for ether here

Reply
In my opinion
The only reason ether is lagging is the sell orders
As soon as buys come in, massive amount of sells also come. When the buys go low they disappear

The sellers are not real sellers. They want to push the price down

Sorry to leave too many messages on ur page

Cheers :)
Reply
We r going to the moooooooon sooooon :))))
Reply
This time
Yes

:)))
I think ether is out performing over btc

If I am not mistaken

Reply
@meveme, yes, ETH is outperforming BTC and I think it because of the Fork. BTC has not real fundamental drive right now. ETH does. But then again, LTC is flying strong that both ETH and BTC and there is no explanation for that. But all in all, my ETH bull bias is getting stronger....
Reply
EuroMotif EuroMotif
@EuroMotif, * LTC is flying stronger than both ...
Reply
meveme EuroMotif
@EuroMotif, for sure u r way more experienced
I never liked ltc. I think ltc will end up having major problems in 2019

But ether
Even though looking at the chart for last 10 months
It has sustained itself well

Yes. Fork is helping for sure
Eventhough without fork analysis shows way better setup for ether than btc in all alts

Xrp I think is next in line

:)
Reply
Good call

Waiting for entry
Reply
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