This is an update of my ongoing analysis of ETH movement.
As we all know, FUD hit the market and of course at a top.
The news was pretty serious and the market reacted as such.
In a nutshell, it is HIGHLY likely we see another leg down (or two).
How FAR down we go will depend on how far up we bounce first.
If the bounce is DONE, then we could fall pretty far down.
Historically, when FUD is released at a Top, it is followed by more.
Perhaps the NYAG or court will push another pawn up the board.
Perhaps another exchange will pull an exit scam (but a big one).
I have plotted three possible ABC scenarios. excuse the clutter.
ABC in Red seems most likely at the moment.
ABC in Black quite probable if A is not done yet.
ABC in Green is a the best case but not very likely.
Or maybe I am totally wrong and we continue Parabolic rise. ... riiiiite.....
Or maybe a 20% drop was enough, we consolidate, then rise. ... hmmm .....
Or maybe here will be more FUD just as B is nearing its end. .... sold ! .....
.
This is a follow up to me breakout call and targets plotted below.
No matter happens now, I hope you were able to grab some of the rise, and take profits in time.
Were it not for the fud, I am very confident that we WOULD have hit the second target easily.
Breakout Call
As we all know, FUD hit the market and of course at a top.
The news was pretty serious and the market reacted as such.
In a nutshell, it is HIGHLY likely we see another leg down (or two).
How FAR down we go will depend on how far up we bounce first.
If the bounce is DONE, then we could fall pretty far down.
Historically, when FUD is released at a Top, it is followed by more.
Perhaps the NYAG or court will push another pawn up the board.
Perhaps another exchange will pull an exit scam (but a big one).
I have plotted three possible ABC scenarios. excuse the clutter.
ABC in Red seems most likely at the moment.
ABC in Black quite probable if A is not done yet.
ABC in Green is a the best case but not very likely.
Or maybe I am totally wrong and we continue Parabolic rise. ... riiiiite.....
Or maybe a 20% drop was enough, we consolidate, then rise. ... hmmm .....
Or maybe here will be more FUD just as B is nearing its end. .... sold ! .....
.
This is a follow up to me breakout call and targets plotted below.
No matter happens now, I hope you were able to grab some of the rise, and take profits in time.
Were it not for the fud, I am very confident that we WOULD have hit the second target easily.
Breakout Call
Note
Finally, a hint of a retrace. and what beautiful adherance to the fibs: Zoomed in,
Now, in terms direction going forward, idk. If this support breaks, the of course there is better chance of continuing to my target. But the market is very bullish rn, so we will have to see. You can bet I will be measuring this retrace, and will post updates here or a new Idea when I see something with clarity.
.
Note
OK, maybe now we will pullback for real. That Green B looks to be the one Zoomed in we see the exact adherance to the Blue fib series and the plotted zones
Watching closely here, am still expecting further downside. I might post an update Idea if new zones come in to focus based on this move.
.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.