Steep ascending channel until $880?
ETH pushing it's way into new ATH, but can it reach the psychological $1000 barrier before a noteworthy correction?
Growth channel is quite steep and I think we're close to end of major 3rd wave (dark red) which aligns to 5th wave minor EW set (blue).
Profit targets: My main target will be $880. Will keep part of my position open in case it goes past $1000.
According to EW theory, it may as well retrace all the way back to low 400s, but that's too much I think. Mid 600s is more reasonable. Really depends on how and where it breaches the lower end of parallel channel.I will then re-enter and I expect ETH to bounce back and pierce the $1000 threshold.
Note: these are just my opinions, please don't consider them financial advice.
Growth channel is quite steep and I think we're close to end of major 3rd wave (dark red) which aligns to 5th wave minor EW set (blue).
Profit targets: My main target will be $880. Will keep part of my position open in case it goes past $1000.
According to EW theory, it may as well retrace all the way back to low 400s, but that's too much I think. Mid 600s is more reasonable. Really depends on how and where it breaches the lower end of parallel channel.I will then re-enter and I expect ETH to bounce back and pierce the $1000 threshold.
Note: these are just my opinions, please don't consider them financial advice.
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