Show Me on Your Wallet Where Vitalik Was Mean - ETHEREUM! (ETH)
Hello Friends.
People have been asking for an Ethereum chart, and the last one is a bit outdated. In our previous analysis, we called for a target of $312 but unfortunately the entries we wanted to see were never reached.
So now, having redrawn the Fib retracement, we can see that in fact, there has been a clear measurable 62% retrace on ETH. Remember that nothing is forcing these coins to retrace.
In any case, zooming out gives us a better picture on ETH, I think mainly at this point it did in fact break the speed fan resistance and simply, consolidate into an order block above it.
How do I know these impulse waves will continue upward? Well, I don't, but simply, notice the reaction to the .618 time zone. That, typically, is an indicator that the market would like to continue moving up. Not always, but it is a solid clue.
Now, I have placed two targets on the chart, the 127% and 162% extensions, both under the next speed fan resistance. I expect them to be met as we begin to push up against the outer Fib circles (white) and subsequently, the .618 timezone from a higher timeframe.
This really isn't rocket science, the whole market is in a clear state of FOMO now. Just be careful and make sure to take profits...that is what kills traders here. Don't chase the pumps...market buys are not your friend.
Good luck traders.
People have been asking for an Ethereum chart, and the last one is a bit outdated. In our previous analysis, we called for a target of $312 but unfortunately the entries we wanted to see were never reached.
So now, having redrawn the Fib retracement, we can see that in fact, there has been a clear measurable 62% retrace on ETH. Remember that nothing is forcing these coins to retrace.
In any case, zooming out gives us a better picture on ETH, I think mainly at this point it did in fact break the speed fan resistance and simply, consolidate into an order block above it.
How do I know these impulse waves will continue upward? Well, I don't, but simply, notice the reaction to the .618 time zone. That, typically, is an indicator that the market would like to continue moving up. Not always, but it is a solid clue.
Now, I have placed two targets on the chart, the 127% and 162% extensions, both under the next speed fan resistance. I expect them to be met as we begin to push up against the outer Fib circles (white) and subsequently, the .618 timezone from a higher timeframe.
This really isn't rocket science, the whole market is in a clear state of FOMO now. Just be careful and make sure to take profits...that is what kills traders here. Don't chase the pumps...market buys are not your friend.
Good luck traders.
Trade closed: target reached
