ETHUSD 2020–2021
Updated
Updating and expanding on a previous idea, seeing the potential for a strong ETH rally in the coming 1.5 years.
First, a breakout of the current down channel, up to ~$200.
Then, back down to ~$130–140 before breaking out of the longterm triangle.
Resistance is found at .236 and .382 fibs, but with no major pullback. This kicks in FOMO for another big leg up.
Major resistance at 1.618 fib, short of the ATH. A big pullback brings us back to $450–$550 range, finding support at .618 – .5 fibs.
Climbing back up to ATH, where a breakout will propel us another ~130%, hit a new ATH at around $3800.
This is not trading advice, but merely a fantasy scenario and a desperate attempt at drawing lines to predict something that is very difficult to predict.
First, a breakout of the current down channel, up to ~$200.
Then, back down to ~$130–140 before breaking out of the longterm triangle.
Resistance is found at .236 and .382 fibs, but with no major pullback. This kicks in FOMO for another big leg up.
Major resistance at 1.618 fib, short of the ATH. A big pullback brings us back to $450–$550 range, finding support at .618 – .5 fibs.
Climbing back up to ATH, where a breakout will propel us another ~130%, hit a new ATH at around $3800.
This is not trading advice, but merely a fantasy scenario and a desperate attempt at drawing lines to predict something that is very difficult to predict.
Note
A zoomed out view of the above chart.Note
Elliot waves to support idea.Note
Bearish crab harmonic to support 1.618 pullback
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