Jokes and other BS aside though; clean and objective just like the others...
As far as I'm aware very few have been able to figure out _where_ ETH's recent bottom target actually comes from but a quick glance at the Kraken weeklies extending back to 2015 puts that conundrum to rest very quickly
Without that information it could be tempting to eyeball what looks vaguely like a shoulder circa May '17 and likewise Oct '18 and convince oneself of the possibility of dank single digit lows but the fallacy of that aside it can be seen clearly now where that low _would_ have appeared if it were to have transpired by now; instead there's a pile of doji above totally denying the dip back down by virtue of the fact that dumps were all scooped up real fast
That leaves a scenario _similar_ to LTCUSD with the added ambiguity of the rising wedge but likewise a strong break either way is very much in play and if it's _up_ I wouldn't be surprised to see ETHUSD's run catch up with LTCUSD's % gain should they both break the key resistances they're up against
As far as I'm aware very few have been able to figure out _where_ ETH's recent bottom target actually comes from but a quick glance at the Kraken weeklies extending back to 2015 puts that conundrum to rest very quickly
Without that information it could be tempting to eyeball what looks vaguely like a shoulder circa May '17 and likewise Oct '18 and convince oneself of the possibility of dank single digit lows but the fallacy of that aside it can be seen clearly now where that low _would_ have appeared if it were to have transpired by now; instead there's a pile of doji above totally denying the dip back down by virtue of the fact that dumps were all scooped up real fast
That leaves a scenario _similar_ to LTCUSD with the added ambiguity of the rising wedge but likewise a strong break either way is very much in play and if it's _up_ I wouldn't be surprised to see ETHUSD's run catch up with LTCUSD's % gain should they both break the key resistances they're up against
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First target almost acquired; next one up nearer 400 folks
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Apparently I neglected to update this post with the lower timeframe parabola before it broke which is a shame but it's almost identical to BTC's in any case and had I been at the baize yesterday looking for a short entry rather than shooting zombies in the face I would have taken lead from this chart here in terms of timing; as mentioned in my other posts ETH and LTC have taken turns to front run the recent rally as well as BTC—especially so for ETH recently which took lead for a huge market cap swell—and when that happens they tend to front run the pullback _also_; farther downside is likely to be triggered by the 225 support failing should it do so (all eyes on the 190 – 200 neckline) but don't get _too_ wrapped up in shorting as there's a straightforward long opp waiting right there also... !
