Been using this fractal for a while, finally going to publish it. Both of these structure moves have ~70% retraces with Ethereum's being bigger. Historically Crypto doesn't do more than 80% on it's pumps and dumps before they bottom out. Even ripple, the king of the mega retrace, only does about 70% or so. Dash, 72% dump. etc. etc.
What I like is how this is a falling market, slowly quickening into euphoria with the dumps and the slope of the bleed becoming steeper and steeper. I like this setup. I don't like the lack of capitulation volume.
Either way, it's at a mighty discount. Load up the bags. Target is the $220-250 range.
Some other supporting charts:
Falling wedge going to capitulation. I suppose $80 target is support too, but I think it's too much to go in one leg and won't be tested.
ETHBTC pair landing on a higher high here would be very nice. Structure support around 0.062 as well.
What I like is how this is a falling market, slowly quickening into euphoria with the dumps and the slope of the bleed becoming steeper and steeper. I like this setup. I don't like the lack of capitulation volume.
Either way, it's at a mighty discount. Load up the bags. Target is the $220-250 range.
Some other supporting charts:
Falling wedge going to capitulation. I suppose $80 target is support too, but I think it's too much to go in one leg and won't be tested.
ETHBTC pair landing on a higher high here would be very nice. Structure support around 0.062 as well.
تم فتح الصفقة
Bags loaded, let's go.ملاحظة
Not a bad place to scale out a bit and take profits.ملاحظة
Orderblock didn't quite get hit on Bitfinex, though GDAX went to $130 which is quite a bit deeper. It ALMOST manage to get there but not quite. Not a bad bounce from that either.
ملاحظة
$220 target getting hit. SELL MOAR. Bounce going very nicely.أغلقت الصفقة: تم الوصول للهدف
Target hit, bear trendline touched. Consolidate now for a few days probably. Unclear on what's next.
ملاحظة
Really extended up here... I have this itch I can't get past that we're just bull trapping everyone up here. Only reason is the 2013 bitcoin fractal. Will be interesting to see how this one plays out.
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لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.