Who wants Ethereum? Nobody! But that's when the best investment opportunities present themselves. Over the past few weeks Ethereum has seen a sizeable bounce off the 0.618 fib, and the 2017 Bull Market Top at $1,420.
The trade idea is that Ethereum never finished its bear market correction, and still needs Orange Wave D & E to complete the bear market correction (Yellow Wave 4). Additionally, on the monthly time frame, Ethereum has printed a bullish monthly dragonfly doji. In my opinion, this has reduced the probability of Ethereum crashing into the abyss. Targeting at least $7,290.50 for a potential bull market top.
In the short term, Ethereum must reclaim the resistance level at $2,112 as support ASAP. Additionally, Ethereum Dominance is trading in Wyckoff Accumulation on lower time frames.
The trade idea is that Ethereum never finished its bear market correction, and still needs Orange Wave D & E to complete the bear market correction (Yellow Wave 4). Additionally, on the monthly time frame, Ethereum has printed a bullish monthly dragonfly doji. In my opinion, this has reduced the probability of Ethereum crashing into the abyss. Targeting at least $7,290.50 for a potential bull market top.
In the short term, Ethereum must reclaim the resistance level at $2,112 as support ASAP. Additionally, Ethereum Dominance is trading in Wyckoff Accumulation on lower time frames.
Trade active
On the 4 HR time frame, we can see that Ethereum Dominance quickly pierced below its all time low before rallying up, and is now potentially trading in Phase C/D of Wyckoff Accumulation Schematic #2. VITALIK GET TO WORK
Note
Ethereum Dominance fully breaking out! Disbelief is beginning to set in.
Note
BANG! Ethereum reclaims $2,112. That is huge. Tons of alt coins are creating/finalizing their initial impulsive waves off the April lows. This is not the time to be sleeping on alt coins. This is the time to be spending every spare minute you have researching on potential trade setups. Not financial or life advice lol 
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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.
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.