Nica521
Long

ETH short term limit almost reached -> pull back to $236

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Currently ETHUSD is in an AB extension to the D target of $466.33USD.

Looking at the sub AB retracement (a=$136.12 and b = $258USD) it has made a 0.618 retracement to $182.68USD. It broke the counter trend line on Aug 08 to begin its extension to the capital D $466.33, however its about to hit its sub d target at $332.32USD. At this point expect a pull back as profits are taken where ETH should fall back to support at approx. $236USD which will be a good entry point for those wanting to go long.

I will provide an update over the next day to explain the next sub ab retracement.



Comments

Double top at 400, i dont see any reason why it can not pull back to neckline 180-200 if short term selling panic happen. But alot of younger inexperienced investors are entering, i would not be surprised if eth breaks out to 500-600 before pulling back to 300
+1 Reply
For majority of cases, the BTC price determines the overall trend for the altcoin.
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For any of the altcoins, I think TA should be based off their value in relation to BTC not USD which is why IMO you got this prediction wrong.
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