ETHUSD heading for $300 at least.
تم تحديثه
ETH left downtrend and started a new up cycle.
Just broke out,wait for a correction. First target is 260, wait for a correction towards yellow trendline.
Dont chase candles!
Updates will follow on lower timeframe.
Just broke out,wait for a correction. First target is 260, wait for a correction towards yellow trendline.
Dont chase candles!
Updates will follow on lower timeframe.
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Perfect touch of first targetzone @260 and trendline. Right now retracing. Lets wait and see till how far this correction can go. ملاحظة
First target reached, perfect in the blue box.Let's see if we get a (small) correction before further up towards 300
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Tagetbox got hit, I'm expecting some pullback now. Lets see how far before next leg up.
Once pullback is completed, we can determine next target.
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sorry, wrong chart above. No function to edit an updateملاحظة
After topping out, ETH retraced as I expected which looks to me as a classic ABC-correction. Currently forming a bearish pattern bearflag which indicates more downside.We have 2 options right now:
1) It doesnt break top at 304 and retraces back to (C)
2) It goes a bit more up as RSI shows it has short term room to the upside and retraces from the little blue box in top.
Trading advice: wait for further correction to (C) and watch price action there for next leg up or go short if it breaks the trendline. I will update if necessary.
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Just a small note extra about Trading Advice: if B extends to the blue box, it will be also a nice short to C. If it doesn't break to the upside!ملاحظة
So, it was the second option.... Price hit the target zone and is retracing a bit now. If it breaks the yellow trendline, its very likely to visit the blue box in the bottom of channel what should be a good point to consider adding longs for the run to (5)
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Watch price action.....A break out to the upside changes the pattern
tradingview.com/chart/Z1iG7mSF/
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does it work now?ملاحظة
On its way.....I repositioned the targetbox slightly as it became more clear now (B) is in position
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Targetbox got hit already!Based on RSI + MACD, I'm expecting some more downside. Possible scenario in blue.
Breakout to the upside could be a buysignal, watch priceaction near upper trendline but be carefull as I', still bearish on ETH.
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ETH broke out of the down trend channel but it didnt convince me....I cant really explain, but I have the feeling it will look for more downside.
Currently in a expanding triangle which is a trend reversal pattern (down)
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ETH is about to finish its 5th leg. Watch priceaction near 5. I'm still bearish, these 2 channels look like an ABC correction for me.
Lowered my target
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Wanted to upload this chart with the ABC in it:ملاحظة
Forming a bigger pattern.....If it breaks, we might have started a new uptrend already. but not yet convinced.
Remember, it already hit my targetbox so the initial correction is in. I was looking if it can go lower.
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