TradingNomadic

$ETH Ethereum ABCD 1.618 Extension

Long
BITSTAMP:ETHUSD   Ethereum
Just an idea here. I do think we are going to do the 1.618 extension from our lows eventually here on ETH. Whether you are looking at this as an ABCD, Cup and handle (ish), or a breakout of a consolidation, the targets are confluent with each other. Now the correction after the 1.618 is merely just my speculation, but a 6.18 retracement off the highs would bring us back down to backtest resistance here on the weekly and also back down to trend.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.