I think this is a local downtrend to re-test the recent downtrend (upper red line) before continuing on upwards? The yellow target makes a touch around $503 but this may be on the low side. I'd say it is in a state of confluence! Staying long alts for now.
Cannot compete with the maestro of Fib Circles but thought I would have a go with interesting results?
Many traders thinks Huobi is leading the charge and of course they may well be right! Last nights fall took me my surprise but then I ask myself why and maybe this chart reveals all?
Similar to other exchanges but slightly lower on the upside ..... don't know if interruption had anything to do with that?
Ether in equilibrium ~ short term path whilst ETC finds its equilibrium, so probable long haul to reach upside targets!
Well this is pretty similar to previous forecasts but with a bit more meat on the bones....still too early to call when this local bear trend since mid June finishes?
After a heroic candle,compared with recent activity, the bear still lurks in the clouds! Remains to be seen near term whether or not this can be sustained?
Went long again down here on the basis it is now a Bull Flag.....hope it plays out!
An interesting little chart which sums up the market mood with possibility of BTC breaking either way!
I suspect Ether is about to launch from this bullish pennant. Support looks strong at 0.02037 with target at 0.0295 next fib level being 61.8% retrace.
Slow but sure buffeting up against the fork trend but needs to do some work now to get through cloud, then we can start thinking about real bull targets. Unlike comments by a fellow trader I only see a steady slog upwards after consolidation... the jury is still out!
Following up on the last serious bull projection I expect this outcome in the coming month's....of course this pattern can always breakdown and should not be taken as gospel!
On leg CD targeting 0.028, 0.043 & 0.050 for long term levels. Strong support level @0.01870.
Alright lets see now whether or not this scenario plays out?
As I was questioned as to the aggressive recent target bottom, I had to agree it looked somewhat low so have gone for $487 which might form and Adam & Eve bottom.....but this is all up for debate! We will then have to see it break the recent downtrend line which would look like a "Falling Wedge Reversal Pattern" to continue on and upwards to new highs maybe early...
Looks like this could be awhile before braking out of the range before forming any type of bottom!
I have drawn these although not complete yet as there are indeed similarities! Of course the bottom is as yet unclear for this short tern downtrend ~ overall still in Bull market until confirmed otherwise?