Crypto_Ed
Long

$ETHUSD towards $1000,-

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
6100 views
56
Pretty straight, clean and simple set up.
ETH is making a wild cycle up. just did 1st and 2nd leg. 2nd leg was correction and price broke already to the upside.
After a breakout, 9/10 a smaller correction follows and sort of retesting the trendline.

Wait for this pullback to hit the blue box, if you see some strong bullish price action you can enter the trade for a nice move up.
Targets determined with Fibonacci Extensions.


Happy trading!
Comment: Reached Potential Revesal Zone but more to come.
Lets see if it starts a correction and where we can place 4 to determine 5

Comments

Are you taking into account the possibility of ETH/BTC pair effect on the USD price?
what are your thoughts?
+5 Reply
bedarija CaptainCigar
@CaptainCigar, this. never go just coin/usd comparison always check coin/btc as well
Reply
sickojacko bedarija
@bedarija, haha :) you mean "never go coin/usd", right ?
Except for ETH and maybe 2 or 3 other coins, nobody never look / takes coin/usd into consideration for technical analysis.
Reply
Love your work
+1 Reply
Good work @Crypto_Ed , thanks for the analysis.
Reply
hello please what strategy is used here?
Reply
I'd agree, but everyone is too scared to commit to alts because of BTC rising/Futures :(
It'll happen but time frame might be a bit later.
Keep up the good work man! :)
Reply
Quin73 matboy
@matboy, Definitely not the case. Most alts are mooning since 3 days ago.
Reply
john29 Quin73
@Quin73, This is clearly the case. They are mooning while BTC allows them. But with CME event, alt trends will be broken up
Reply
Quin73 john29
@john29, Lets agree to disagree :)
Reply
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