Bitcoin is moving, fantastic! I've been a bit busy because of school, but the past week has had some interesting turns in the crypto world.
First of all, we have seen explosions across the market as alts are following Bitcoin's recent movements. This is one of the reasons ETH/USD has been making some moves, let's hope Bitcoin can keep this up! Additionally, a few days ago ETH/USD broke out of a very long term falling wedge and has continued to rocket through since. Let's hope Bitcoin continues making movements so that Ethereum holds its momentum.
Additionally, the Constantinople update is in 7 days which fixes a lot of security concerns with the fork. This could be a catalyst for some more movement in the next few days.
Ethereum has been bouncing off the fib levels frequently, so I am setting my targets based on these levels. If the market continues to move well, ETH/USD could reach $167.50 within the next few days. At that point, I would sell and buy back in when it retraces. I will probably hold my ETH long for a few days and then take profit close to the Constantinople update.
First of all, we have seen explosions across the market as alts are following Bitcoin's recent movements. This is one of the reasons ETH/USD has been making some moves, let's hope Bitcoin can keep this up! Additionally, a few days ago ETH/USD broke out of a very long term falling wedge and has continued to rocket through since. Let's hope Bitcoin continues making movements so that Ethereum holds its momentum.
Additionally, the Constantinople update is in 7 days which fixes a lot of security concerns with the fork. This could be a catalyst for some more movement in the next few days.
Ethereum has been bouncing off the fib levels frequently, so I am setting my targets based on these levels. If the market continues to move well, ETH/USD could reach $167.50 within the next few days. At that point, I would sell and buy back in when it retraces. I will probably hold my ETH long for a few days and then take profit close to the Constantinople update.
Comment:
Took profit at our target hit, perfect timing before the crash. Right now we are still playing fib levels and ETH has not taken as much of a hit as the entire market. I'm personally opening another long position on ETH @ $136 with a stop loss at $132.