ETHEREUM REACHING UPWARDS ON IT'S FINAL PULSE BEFORE CORRECTION
- Forming last ABCDE pulse, looking to break ATM
- Possible short position available after final pulse up.
- Potential repeat of Ripple with strong final surge up.
- For strong final surge upward towards $1500-$1644, looking for strengthening in DMI (last 7 4h candles in green)
I posted a short while ago that Ethereum might repeat the Ripple ABCDE formation with a reprice downwards. Ethereum is now on it's final pulse up though for a convincing surge upwards, it would need to break through it's current ATH of $1378. I'm keeping my eye on the DMI to strengthen with the +DI (green line) to move upwards above the red -DI and the index (blue) to move higher.
Final legs of ABCDE can be short -> let's see how this one plays out before reprice downwards. If it follows Ripple's pattern it will reach the $1500. Ripple did a very strong final pulse but for Ethereum, that second pulse upward was very elongated and I'd be surprised to see a repeat of that.
And now for the disclosure!
** This information is for educational purposes only and not intended for advice on trading **
- Possible short position available after final pulse up.
- Potential repeat of Ripple with strong final surge up.
- For strong final surge upward towards $1500-$1644, looking for strengthening in DMI (last 7 4h candles in green)
I posted a short while ago that Ethereum might repeat the Ripple ABCDE formation with a reprice downwards. Ethereum is now on it's final pulse up though for a convincing surge upwards, it would need to break through it's current ATH of $1378. I'm keeping my eye on the DMI to strengthen with the +DI (green line) to move upwards above the red -DI and the index (blue) to move higher.
Final legs of ABCDE can be short -> let's see how this one plays out before reprice downwards. If it follows Ripple's pattern it will reach the $1500. Ripple did a very strong final pulse but for Ethereum, that second pulse upward was very elongated and I'd be surprised to see a repeat of that.
And now for the disclosure!
** This information is for educational purposes only and not intended for advice on trading **
Comment:
And it breaks ATH - now to 1475
Comment:
Eth finishes the final leg up. Didn't quite muster enough strength to reach above $1,500
Expecting a reprice down though should stay above $1k.
Expecting a reprice down though should stay above $1k.
Comment:
Showing signs of strong support above 1261 now.
- ATH of $1378
- Fib extension 1475
- FIb extension 1581