ETH/USD looking very bullish on the HTF charts
This week price wicked down to ~$1360 to retest
the previous weekly All Time High (ATH) close
which was printed the week of Jan 8 2018.
At the same time it tested this S/R flip (which we
still need to wait for 3d 7h to pass to ensure
this flip is successful and confirmed bullish)
we tested the first line of support on the Ichimoku
trading system, the Tenkan-sen which (if confirmed)
will add confluence to our belief that this S/R
flip is the one we needed to have in order to
allow for further ETH expansion, a close over the
gold line @$1,476 would be ideal.
The rest of the Ichimoku looks bullish as well:
-Kumo Cloud is green
-Tenkan is above Kijun
-TK also above Kumo Cloud
-Lagging span is above Cloud and above price
-No C Clamps formed calling for much larger
correction than we've just had
The MA30 is well above the EMA100 and is
showing no signs of price regression on the HTF.
If this weekly candle closes as just a wick to
retest previous ATH, expansion within the
coming month or two towards the
Fibonacci 1.618 level
@$2,343
would be expected
as our next price target. Once that is breached
and price confirms on the weekly scale of an S/R
flip of that Fib level, the next logical target HTF
target would be the 2.618 level
@$3,745
With Optimism, the L2 scaling solution coming
to ETH in March which allows for cheaper fees
and lower latency,
As well as the the Canadian asset manager CI
Financial filing for an ETH ETF bringing more
attention to the Altcoin leader,
we would expect these price targets to be
reasonable.
This week price wicked down to ~$1360 to retest
the previous weekly All Time High (ATH) close
which was printed the week of Jan 8 2018.
At the same time it tested this S/R flip (which we
still need to wait for 3d 7h to pass to ensure
this flip is successful and confirmed bullish)
we tested the first line of support on the Ichimoku
trading system, the Tenkan-sen which (if confirmed)
will add confluence to our belief that this S/R
flip is the one we needed to have in order to
allow for further ETH expansion, a close over the
gold line @$1,476 would be ideal.
The rest of the Ichimoku looks bullish as well:
-Kumo Cloud is green
-Tenkan is above Kijun
-TK also above Kumo Cloud
-Lagging span is above Cloud and above price
-No C Clamps formed calling for much larger
correction than we've just had
The MA30 is well above the EMA100 and is
showing no signs of price regression on the HTF.
If this weekly candle closes as just a wick to
retest previous ATH, expansion within the
coming month or two towards the
Fibonacci 1.618 level
@$2,343
would be expected
as our next price target. Once that is breached
and price confirms on the weekly scale of an S/R
flip of that Fib level, the next logical target HTF
target would be the 2.618 level
@$3,745
With Optimism, the L2 scaling solution coming
to ETH in March which allows for cheaper fees
and lower latency,
As well as the the Canadian asset manager CI
Financial filing for an ETH ETF bringing more
attention to the Altcoin leader,
we would expect these price targets to be
reasonable.