JamesZhang
Long

ETHUSD Nice Long Position from 61.8% Retracement

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
ETHUSD             has just pulled back from $1,400 and was supported by 61.8% retracement . This is a nice position to try longing it.
Comment: ETHUSD has just reached first resistance of 38.2%, which is also the previous low. It should be able to reach next height of 23.6%, 1120, shortly.
Pulling back from 1400 to 600 is a very good relief of ascending pressure, and I believe ETHUSD now is more prepared to strike 1400 again.
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