Rilez

ETH/USD setting up for a nice long to .38 $352

Long
KRAKEN:ETHUSD   Ethereum / U.S. Dollar
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.

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8500? No way
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