ETH - Long Term Bullish Perspective
This is my idea on ETH. Long term perspective - very bulish. Short
to mid term we might see some drops. I am expecting ETH to be in the range of $1,000
by August next year and this is only if we experience slow and steady growth.
This is my conservative prediction considering the current stage of the economy and
the follow up effects we will all experience in the following year.
Since everything relates to BTC I looked at BTC previous history to look for the answer to " When moon?". From previous history
a bull run usually occurs about a year or so after the halving. We could assume that we should
expect a bull run in the midst of 2021, but this might take a bit longer. Keep in mind that bigger markets
make slower moves, so the next bull run period maybe delayed in the ballpark of 6 months to a year
to the end of 2021 or middle of 2022.
If the bull run starts at the middle of 2022 and we do an exact match of the previous bull run wave of 2017 using the fib retracement tool we could
possibly see ETH at around $2,800 peak for 1-to-1 extension. if we go to the 1,618 our target will be $3,300. Finally for insane Growth,adoption and another crypto craze we could see a run to 4,236 fib level and $6,500 or even higher, but chances are slim even so everything is possible in crypto. Then most likely another multi-year bear market.
Few other factors:
MACD - every time there's a swing high in the past there is always
a swing low which relates to short bear market. Now we are in a swing low faze which might last 6-8
weeks. ETH should hit a low of around $300 to touch the bottom of the channel.
MFI is at 25 which is also a bearish sign. From now to about the middle of September I think we are going lower.
I do not see any massive drops, but I think ETH is going to drop a bit more before the reversal.
Anyways, thanks for reading my rant. Give me a follow and thumbs up if you like my idea and share yours.
Best of luck on your trades!
to mid term we might see some drops. I am expecting ETH to be in the range of $1,000
by August next year and this is only if we experience slow and steady growth.
This is my conservative prediction considering the current stage of the economy and
the follow up effects we will all experience in the following year.
Since everything relates to BTC I looked at BTC previous history to look for the answer to " When moon?". From previous history
a bull run usually occurs about a year or so after the halving. We could assume that we should
expect a bull run in the midst of 2021, but this might take a bit longer. Keep in mind that bigger markets
make slower moves, so the next bull run period maybe delayed in the ballpark of 6 months to a year
to the end of 2021 or middle of 2022.
If the bull run starts at the middle of 2022 and we do an exact match of the previous bull run wave of 2017 using the fib retracement tool we could
possibly see ETH at around $2,800 peak for 1-to-1 extension. if we go to the 1,618 our target will be $3,300. Finally for insane Growth,adoption and another crypto craze we could see a run to 4,236 fib level and $6,500 or even higher, but chances are slim even so everything is possible in crypto. Then most likely another multi-year bear market.
Few other factors:
MACD - every time there's a swing high in the past there is always
a swing low which relates to short bear market. Now we are in a swing low faze which might last 6-8
weeks. ETH should hit a low of around $300 to touch the bottom of the channel.
MFI is at 25 which is also a bearish sign. From now to about the middle of September I think we are going lower.
I do not see any massive drops, but I think ETH is going to drop a bit more before the reversal.
Anyways, thanks for reading my rant. Give me a follow and thumbs up if you like my idea and share yours.
Best of luck on your trades!
Comment:
I guess the fib retracement on the right moved as I was adjusting the chart. It should start at the bottom ( middle of November 2017). That's where I measure it from. Anyways. Let me know if this makes sense.
Don't overcomplicate things in trading