EuroMotif

ETHUSD retrace watch: Etherrium hit targets + buy again zones

COINBASE:ETHUSD   Ethereum / U.S. Dollar
Quick short term outook with support zones worth watching.

This is a follow up to my expected top (which was surpassed by a blow off top and thus the large retrace)
Dec 25
Comment: ETH might be starting an impulse off my first support zone
Dec 25
Comment: Just hit first resistance and was definitely noticed
Dec 25
Comment: Go ETH. It may have confirmed previous resistance as new support. Check out the EXACT bounces on the red zone, the boundaries of which were clalculated from Fib Ratios
Dec 25
Comment: Another EXACT bounce but is a bit concerning for bull view. Ideally it should not have come back to it at all. Each time it is hit, it will become weaker. Next approach will probably go right through. So bulls need to pull away from it as quickly as possible.
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Dec 26
Comment: Here it comes again, lets see if it holds a third time
Dec 26
Comment: Rut Roh let see if it can come back into the red zone quickly. If not, it will fall quite a bit more
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Dec 26
Comment: Oh boy, an exact bounce on same line only in OTHER direction. I would not be surprised to see price come back up and test the LOWER boundary and if it rejects from it, down we go.....

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Dec 26
Comment: Bad sign for bulls, could not even retest bottom of zone :(
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Dec 26
Comment: This should be the last test of this support. either it Bounces like a Beast or Sinks like a Stone
Dec 27
Comment: Rut Roh, this recent support zone is now at risk of turning into Resistance
Dec 27
Comment: My ''Ideal Entry'' zone looking better and better
Dec 27
Comment: Just spotted a new possible support zone before my Idea Entry zone
Dec 27
Comment: Here we are, limit buys picked up
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Comments

Eagerly waiting on how you analyze the situation now :-)
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Thanks for your TA. Very accurate
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