Ethereum is Setting up with Similar Structure as 2017 - $13,302?
As I've shown in the chart, if you lay over the bar pattern Ethereum printed in 2017 during its summer consolidation and end of year blow off top, $13,302 is in the cards.
All Fibonacci retracement levels, as well as the bar pattern fit like a glove leading to a potential peak price of $13,302.
If we get a similar structure to close the year for ETH, we could also see a short term rejection between the .702 and .786 with continued consolidation until November.
Crypto is known to finish off bull markets strong in November and December as well, so this is something to keep an eye on as a true possibility.
Another thing to note, if ETH goes parabolic we could see it end the year with an Elliott Impulse Wave, similar to 2017.
Paying attention to the wave structure as well as the fib levels can help give you a clue when this run will be done!
Good luck everyone!
- CA$HLESS
All Fibonacci retracement levels, as well as the bar pattern fit like a glove leading to a potential peak price of $13,302.
If we get a similar structure to close the year for ETH, we could also see a short term rejection between the .702 and .786 with continued consolidation until November.
Crypto is known to finish off bull markets strong in November and December as well, so this is something to keep an eye on as a true possibility.
Another thing to note, if ETH goes parabolic we could see it end the year with an Elliott Impulse Wave, similar to 2017.
Paying attention to the wave structure as well as the fib levels can help give you a clue when this run will be done!
Good luck everyone!
- CA$HLESS