Ethereum $1900 Rejection- Bearish WXY count- $1250 Target
As Etherum starts ascending after my long term target of $1500 was reached, i'm starting to look towards levels to the upside that I'm interested in.
My primary thesis is truthfully reaching $2700 before we see any meaningful rejection, but i'm always open to alternative ideas.
I'm noticing an area of strong resistance around $1900 on Ethereum- a high volume node and fibonacci golden pocket are perfectly aligned around this area. Again, my primary thesis assumes we eventually break this level, even if we temporarily reject- but I can certainly see it being possible that this rejection turns into something much more significant.
IF we reject from $1900 and see a sharp correction, with no indication of strength, and we eventually break under the current recent lows of $1530- I will certainly be expecting this scenario to play out. My long term target for this thesis lies right around $1250.
Happy Hunting!
Targets-
scenario 1: $2700
scenario 2: $1900 Rejection--> $1250
My primary thesis is truthfully reaching $2700 before we see any meaningful rejection, but i'm always open to alternative ideas.
I'm noticing an area of strong resistance around $1900 on Ethereum- a high volume node and fibonacci golden pocket are perfectly aligned around this area. Again, my primary thesis assumes we eventually break this level, even if we temporarily reject- but I can certainly see it being possible that this rejection turns into something much more significant.
IF we reject from $1900 and see a sharp correction, with no indication of strength, and we eventually break under the current recent lows of $1530- I will certainly be expecting this scenario to play out. My long term target for this thesis lies right around $1250.
Happy Hunting!
Targets-
scenario 1: $2700
scenario 2: $1900 Rejection--> $1250