This an update to be continuous study of Ethereum since its bottom (in theory).
The above chart was created using this process: First we have Blue ''Pulse'' fib setting the root increments of price movement
On larger scale, we have this Green ''Wave'' Fib defining the larger structures
Next, measuring the move down, we have Red ''Relaxation'' Fib with it own hearbeat
Combining those three Fib sequences, I can map likely support zones
Also see my ongoing analysis and calls in Related Ideas BELOW
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Here we are again
Zoomed in, we see EXACT relevance of the blue fib. MAY WELL BREAK, but it proves RELEVANCE. And if that line is relevant, the rest of that fib series should be relevant as well.
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ETH pretty tightly bound to this microFib series
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You cant make this stuff up, but you can measure it
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Fibs dont lie. The 7.618 is a comment end of wave, then the 9.618. But breaking above bands just above is a good sign
Fibs dont lie
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ETH coming up on likely resistance at 149.75 gdax
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ETH break out?
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ETH bulls are definitely eager as per live chart above
Zoomed in, it is obvious that we are at an important zone
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Rut Roh resistance as expected .
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Ping ... not a good sign for bulls. They need to break above quickly or risk falling to next zone below.
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Close up of that Ping EXACT reflection off a fib line confirms its relevance. and in this case it implies a micro retrace
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Well, the eager bulls bought ETH exactly where I expected
Closer inspection shows that we had 12345 impulse, and maybe completed the ABC correction
If so, this needs too move up rapidly here.
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Bulls trying to put some distance between support and price maybe the ABC correction on this tf is done after all .
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if this is going to play out, 150.16 has to bounce strong and punch through the red zone with vigor
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yup, 150 round to be tested, and better bounce like a super ball
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here we are, but just sitting there, not good
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Sweet
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fibs dont lie. This is why it bounced a little above 150 round on gdax (not saying it will hold, but a reflection was expectable)
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ETH bulls MUST defend 149.61 gdax
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ETh: decent bounce off Critical zone
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Spectacular dip in typical Crypto style. The current Fib I am watching and will see how it meshes with the rest of family.
Pls give us an update
Is there a handle forming for the cup!? That’s why had to drop so much !?
Also pls suppoet is about 120 right !?
Cheers