gillianpatrice
Long

ETH/BTC- Where Bears fear to tread

POLONIEX:ETHBTC   Ethereum / Bitcoin
ETH has had a marvellous run - and as GOLDBUG1 mentioned in his post it has the same characteristics as BTC             before the extension or the last wave before the correction. Future: My analysis tells me that we will see a move long in the next few weeks.

Past: Price has stalled/consolidated at the 127% extension of the last corrective wave after the leg up.
Present: Resistance has been retested (see yesterday's doji ). (Most crypto's restest areas several times before extending). Once price moves sideways retesting the last level of resistance now support (role-reversal), we should see a move up.
Future: My first level is conservative. My final fib extension profit targets where there is a cluster of fibs levels 200%, 423% from the last swing & a 227% from the minor move may and more than likely be achieved. All there is to do is scale once you have banked some money.
The Key: Confluence, price action and overlapping areas of support and resistance .
@gillianpatrice hi! Nice analyse, however, i have some questions. Doesn't the strong divergence between highs on MACD confuse you? Don't you think that Eth firstly should consolidate in 0.104-0.105 area? I just try to find points to buy. What do you think?
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Great analysis Patrice!
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@goldbug1, oh my - I always feel so good when you read my charts.
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goldbug1 gillianpatrice
@gillianpatrice, I always read them! have you checked your PM lately?
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