EuroMotif

ETHUSD back to the ''Scene of the Crime"? Ethereum retrace watch

COINBASE:ETHUSD   Ethereum / U.S. Dollar
ETH broke above my ''line in the sand'' at 152.74 per my last posted analysis below.

BUT, I do not think it was ready to break up yet.
Bitcoin spiked on Weiss news and dragged ETH along.
ETH did not rise as much as Bitcoin , and stopped sooner.

Also, the Fib extensions of the spike in Ether were not as powerful.
As a result, we have created some new resistance zones above us.
Thus I think it will come back to test the break out point.

I can image a stop hunt below the 152.74 price point.
Stop hunt may go under 150.00 where many stops will be.
So the first green zone is worth watching, but risky entry.

.

.


Background:
My ETH journey started a Fib observation from the bottom
Once that played out, I was looking for the retrace zones to enter long again
Above zones played out and as bounce progressed I saw 152 and 156 as possible targets
Then I saw the top coming, sold, and was looking for re-entry zones:
Got some long scalps in per above plan, then I saw another leg down to come
So next was plan to look for retrace zones to buy back in:
Then I saw a distinct resistance that should have been harder to break:
The above ''Line in the Sand'' broke, but I dont think it should have. So am now expecting a retest
Jan 07
Comment: ETH feeling out this 2.618 down fib
Jan 07
Comment: Rut Roh, pierced support but might have been a stop hunt I do think 150 test is coming .

.
Jan 07
Comment: Maybe have have been a stop hunt, but will need to break and confirm the original resistance at 152.74 to prove it
Jan 07
Comment: Not good lower support breached again. Looks like 150 next stop
Jan 07
Comment: Stop hunt below 150? I think so
Jan 07
Comment: Decent bounce, but needs to HOLD 152.74 Crime LIne
Jan 07
Comment: ETH bulls trying hard to hold this red 4.236, but not getting much back up
Jan 07
Comment: ETH has broken about he 152.74 line in sand BUT right now BItFinex is offline, so any crypto moves for at least the next 6 hours are suspicious

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Jan 07
Comment: ETH bulls trying hard to hold 152.17 but I think they will fail :(

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Jan 07
Comment: This Red Fib still says 144/145 likely
Jan 07
Comment: Coming into my zone of interest. Watching closely
Jan 07
Comment: Hmm. Good chance that was the dip, let see if it gets above next band
Jan 07
Comment: First we have Blue ''Pulse'' fib setting the root increments of price movement
On larger scale, we have this Green ''Wave'' Fib defining the larger structures
Next, measuring the move down, we have Red ''Relaxation'' Fib with it own hearbeat
Combining those three Fib sequences, I can map likely support zones
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Comments

Higher time frame, but same as you, I think correction is coming
Reply
head and shoulders posibility
Reply
Ether got dragged as u said

Had a look at xrp!?

Looking good
Reply
@meveme, Hi,
Indeed, XRP has been looking good.
I am watching this Fib series for Xrp right now
Reply
meveme EuroMotif
@EuroMotif, daily bullish

I am exiting ether for now
Entering xrp

Let’s see
Reply
meveme EuroMotif
@EuroMotif, u r bang on with ether
I got out before the dump
Reply
@meveme, Sweet

Same here, got out when I concluded it was headed further down.
Watching 150 round rn
Reply
meveme EuroMotif
@EuroMotif, thank u for the call

Cheers :)
Reply
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