Ethereum/USD: bullish projections
Updated
Ichimoku number theory suggests that something significant may be about to occur at this moment in time.
We should be on the look out for impulsive price movement. This is suggested by the candle/bar counts present on my chart.
Keeping this in mind, we can see from our cloud visuals that we are attempting to breach out of the upper span of the kumo, this is further supported by the tk crossing bull. This further evidences our suspicion that impulsive activity may be about to occur.
Bullish Price theory says the following price targets are within reach.
Assuming B is breached at $311:
V=311+(311-285)=337
N=285+(311-271)=325
E=311+(311-271)=351
Possible disruption/turnaround at:
NT=285+(285-271)=299
Which we are at now.
Conclusion: watch for behavior. High probability move would be going long if the price breaches B with momentum and closing the long at the more likely price targets. Alternatively you could play is riskier and short now for a chance at catching the tip of the trendchange, assuming eth ends up being rejected at this point.
We should be on the look out for impulsive price movement. This is suggested by the candle/bar counts present on my chart.
Keeping this in mind, we can see from our cloud visuals that we are attempting to breach out of the upper span of the kumo, this is further supported by the tk crossing bull. This further evidences our suspicion that impulsive activity may be about to occur.
Bullish Price theory says the following price targets are within reach.
Assuming B is breached at $311:
V=311+(311-285)=337
N=285+(311-271)=325
E=311+(311-271)=351
Possible disruption/turnaround at:
NT=285+(285-271)=299
Which we are at now.
Conclusion: watch for behavior. High probability move would be going long if the price breaches B with momentum and closing the long at the more likely price targets. Alternatively you could play is riskier and short now for a chance at catching the tip of the trendchange, assuming eth ends up being rejected at this point.
Note
It appears as though we have been rejected so far.Please refer to the following idea in order to prepare for the possibility of this rejection following through and things turning bear.
Note
We have a candle body above the kumo and extending above the rejection point. Watch behavior closely. Eth still has made no weighted decisions yet and can go either way.Note
Eth made a decision. Let's see how this pans out.Note
We have successfully hit our lower price target. If you had your limit buys and sells in place you are celebrating a fine victory. If my advice helped make you enough to have you feeling generous, you can find my wallet addresses on my profile.Happy trading.
Note
If you are ballsy enough to be holding out for the higher price targets, goddspeed.Note
We hit our second high probability price target. Congratulations to all you who ddcided to cash out in layers, and an extra congratulations to all you ballsy madmen that were holding out entirely for this target.Trade closed: target reached
We have reached both our calculated high probability price targets and almost hit the optimistic target. Whether you cashed out entirely or in portions was up to you.A new N wave is forming, expect a fresh analysis coming soon on ETH/USD
If you would like to see me access a pro account on Tradingview and maybe even pay for a beer or two, I am accepting donations here.
BTC: 363sDXLXkV7tm3pJmK2mLTDZjdTANbiA4A
ETH: 0x4c1aA87252e31C2552248b3561c9dBef7E21C7Fb
LTC: LeUKche2Mz51tNG4jmTj2LkufkNUd4DpFm
Happy trading.
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