Long

ETH/USD Fib Circle Analysis

Updated

Here I have provided a chart which represents the support and resistance levels of Ethereum using the Fibonacci circle, as you can see it does look like we are moving into a trend reversal into an upwards pattern back towards all-time-highs.

I believe that this will continue based on the chart above. Please let me know your comments and thoughts.

I have also circled critical points where we had major price action occur with lots of buying on sharp dips.

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Each portion of the circle represents a resistance line where you can take profits, each circle I drew shows the buy zones after hitting each resistance.

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Update for a potential buy zone

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Just broke through a major resistance, may just continue bullish without a large pullback, we shall see.

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Looks like we may see this possible buy zone, or else it might short further. Update soon.

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UPDATE: High demand, I tried to do a quick short on eth and had my SL triggered fast, price action is strong here.

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So far so good:

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