Pretty straight, clean and simple set up. ETH is making a wild cycle up. just did 1st and 2nd leg. 2nd leg was correction and price broke already to the upside. After a breakout, 9/10 a smaller correction follows and sort of retesting the trendline.
Wait for this pullback to hit the blue box, if you see some strong bullish price action you can enter the trade for a nice move up. Targets determined with Fibonacci Extensions.
Happy trading!
Kommentar
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Reached Potential Revesal Zone but more to come. Lets see if it starts a correction and where we can place 4 to determine 5
Are you taking into account the possibility of ETH/BTC pair effect on the USD price?
what are your thoughts?
bedarija
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@CaptainCigar, this. never go just coin/usd comparison always check coin/btc as well
sickojacko
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@bedarija, haha :) you mean "never go coin/usd", right ?
Except for ETH and maybe 2 or 3 other coins, nobody never look / takes coin/usd into consideration for technical analysis.
I'd agree, but everyone is too scared to commit to alts because of BTC rising/Futures :(
It'll happen but time frame might be a bit later.
Keep up the good work man! :)
Quin73
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@matboy, Definitely not the case. Most alts are mooning since 3 days ago.
john29
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@Quin73, This is clearly the case. They are mooning while BTC allows them. But with CME event, alt trends will be broken up
what are your thoughts?