ETH bb bands are squeezing nicely on the daily and are looking to break out. ETH hasn't retraced much at all from the down fall from $515. Given that bitcoin
is likely to retest $8,500 from last two ideas shown from my wyckoff analysis. I believe a retrace to $352 to the .38 fib is highly probable for 20% gain. If ETH manages to retrace to .50 fib $381 and .61 $415 that would be a 30% and 40% gain which possible but less probable. Also ETH's RSI
has a lot of room to run on the daily. The daily TD
sequential seems to forming 1 all this evidence on top of the squeezing bb bands which signal a break out or break down about to happen is a good reason to go long imo. In conclusion this is basically a mean reversion long play. This is not financial advice just educational. Good luck cheers.