ETHUSD break out into Wide Open Space: Ether 33% jump launched ?

COINBASE:ETHUSD   Ethereum / U.S. Dollar
Ether has been lagging behind the King, and even LTC for that matter.
The last peak at $829 was almost exactly one year ago, in May of 2018.
That Impulse and its Ripples have carried the price since then down to $82.

From the bottom it has been accumulating energy at each Band traversed.
It has worked its way through the lower bands of this long term Fib series.
Now it has broken out of Band 5 ( zones) and is headed toward Band 4.

"Wide Open Spaces" between bands are like voids where price does not like to linger.
Once it achieves "Escape Velocity" to leave one band, it should quickly reach the next.
There is often a "Sling Shot Effect" which causes overshoot before the energy dissipates.

1st target will be the 4.764 at $271.61 where it will lose some Velocity.
2nd target will be the 4.618 at $288.69 where it has the most Gravity .
Further targets will be determined by amount of gained Momentum.

Below are some of my other plots of break out plans.

ADA breakout and targets that were hit perfectly
Comment: Oops, looks like bottom text got cut off.

See these previous plans and the accuracy of my methods.

BTC call for $8k target was hit perfectly
ADA breakout and perfect Targets
XLM breakout and perfect Targets
ZRX breakout and perfect Targets (one more to go)
XMR next up for breakout, bottom watch here
Comment: Touchdown! Extra Point attempt coming up after the commercials. ....

Comment: Second target came soooooo close! and then new Tether FUD hit the market and boom, big drop. Initial thoughts are to expect a retest of the 5.236 that we launched from (about $216). I hope we do get a retest of it, as that would clarify the strength of bull trend (or deny it). Will post a new Idea as things start to get more clear.

Comment: Finally, target at $288.69 hit It was destined to hit all along, but was rudely interupted by Tether Fudding :(.

Zoomed in a bit, we see the 2 hourly candles that jumped from one fit to the other
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Enjoy to read your analysis every time, precise and on point. Where do you see ETH pulling back from here? Back to 200?
EuroMotif Prometheus777
@Prometheus777, Hello and thanks for your kind words.
In regards to the pullback, I had $224 as an important figure which looks like it might hold.
$216 is the next key figure at that is the high tf fib that we launched from, and really should not go below or we risk losing the uptrend.
At this time, it is very difficult to gauge whether dip is done or more to go. We may well have completed a requisite ABC correction, only question is whether we have a D and E to go ....
@EuroMotif, Thanks for your insight, the most thing I fear right now for the pullback is the upcoming summer time and usually loss of volume. But I guess that pullback and consolidation could take maybe several months, so we would have a hot october/november again.
@EuroMotif, also right now the price is lingering a whole while in the white space, where it should not be too long, right? Is this implying it is not able to break into the next upper band and should retrace?
EuroMotif Prometheus777
@Prometheus777, Indeed, it is a bit worrisome, but it looks to be consolidating just under that long term resistance fib rn.
Of course, we are way overextended on everything, btc especially, and the King decides to pull back we know what will happen...
So I am still cautiously optimistic that we could have one more leg up across the board before the serious correction we all know is coming....
@EuroMotif, yes indeed its the overextension, also I see several alts beeing in different price cycles. While ADA seems to be riding ahead, ETH is simultaneous with BTC and IOTA is lagging. I am not sure I will be betting on another leg up on ETH, while on IOTA it would not surprise me as long as BTC does not correct heavy here.
On the money as usual.
Great chart. Personally, I suspect a pullback on eth before it hits 271 (your band 4), but the risk to reward here is really tempting.
EuroMotif valentynestad
@valentynestad, Thanks and Agreed.
It may well take a couple bounces off support to achieve escape velocity.
And you hit about the RR, the fib zones provide precise boundaries for SL and TP placement.
I like to drag Trailing Stops to just below the last band's lower boundary, as price cuts through bands.
Longer term I think Ether has a lot going for it, and I think it will the Cinderalla story of 2019!
valentynestad EuroMotif
@EuroMotif, or 2020 if I'm right.
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