EuroMotif

ETHUSD targets reached: Ethereum re-entry zones to watch.

EuroMotif Mod تم تحديثه   
COINBASE:ETHUSD   اثيريوم
ETH topped at the Green 4.236 fib extension.
I did not have time to post an idea, but I mentioned its top in Crypto Chat as seen at this link:
www.tradingview.com/...0-a717-59e64aae14ff/

Now looking for support zones.
Upon measuring the first dip from the 4.236, the green zones in live chart above are what I see for possbile re-buy.

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Background:

My ETH journey started a Fib observation from the bottom
Once that played out, I was looking for the retrace zones to enter long again
Above zones played out and as bounce progressed I saw 152 and 156 as possible targets
Then I saw the top coming, sold, and was looking for re-entry zones:
Got some long scalps in per above plan, then I saw another leg down to come
The above plan kinda worked, but ETH was more bull than I thought. So now that we have hit another top, watching support zones with current plan
تعليق:
I am suspicious of this first bounce. We need an ABC what I intiallly though would be ''Minor Support'' now looks likely to be hit, and perhaps even bounces from there. But I would still prefer to see the ''Good Retrace'' zone hit and then bounce with Vigor.
تعليق:
Here we are at the red 4.236 shown in last snap shot lets see if wave A ends here and we get a wave B bounce
تعليق:
Wave B looks to be under way now we just need BTC to make its wave 5 on this 15min plot
تعليق:
Spoiler: if you drag DOWN on the price scale (to squeeze chart vertically) you can see more zones above and below current window, like this
تعليق:
ABC in progress, might be starting wave B
تعليق:
Coming up a crucial price zone end of wave B? or is the ABC total BS and we just going up? about to find out here
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تعليق:
Here we are as expected some profit taking right off the bat. Now the question is: will Bears get in short on the back of Bulls taking profit ? lets see
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تعليق:
Possible rejection here. The piercing of the red 1.618 was a sign this might continue down
تعليق:
ETH struggling here as expected looks like a wave 5 up is finishing here
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تعليق:
Rut Roh, an EXACT reflection off bottom of this zone adding to my confidence in wave C to come
تعليق:
As feared, that exact rejection at bottom of Fib zone seems to be gaining momentum next important line is the red 2.618
تعليق:
ETH wave C down looks to well into the path. Loosing the Red 2.618 was a bad sign, after losing the blue 1.618 and confirmed at resistance
تعليق:
ETH 155 is the key price to watch rn pretty serious Fib confluence there, but I expect lower
تعليق:
Retrace plan still looking valid, or at least not invalidate yet am about to pass out, so am placing laddered buy limits in my expected bounce zones now...
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تعليق:
Finally, wave C happened measuring now to see if C looks done or not
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تعليق:
Test of 152 seems likely, 150 round maybe. If 150 breaks, next stop 146
تعليق:
All fibs still in sync. And showing a nice SL placement
تعليق:
Here we are starting to fill my ladder of limit buys down to 150 round
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تعليق:
I am thinking it was a stop hunt below 150. Proof will be if it goes back above 150 quickly.
تعليق:
This Fib still seems to be in control in my live chart and snaps, I ignored the 3.0 Fib, because it is not very commonly respected. However, looking at the action around the 2.382 and 2.618, this appears to be the consolidation zone and thus every fib line has signficance.
تعليق:
ETH wave count looks plausible for a completed ABC. Need to cross and hold that green 3.618 to confirm
تعليق:
Need to break and hold this green 3.618
with would confirm to bulls that correction is done.

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