I was expecting ETH to bounce from the blue box for more upside but its showing some weakness, what makes me think that it will revisit the lower trendline again, making a bigger ABC correction.
Target calculated with Fibo extensions.
Longer term, I'm expecting a break out to the upside what makes this dip to an excellent opportunity to add to your longs.
Not that much TA in this move, it just seems logical to me. I could use all kinds of fancy indicators, but the chart just tells me thsi.
It also corresponds to a correction in BTCUSD. Comparing those works always great for confirmation for me.
Target calculated with Fibo extensions.
Longer term, I'm expecting a break out to the upside what makes this dip to an excellent opportunity to add to your longs.
Not that much TA in this move, it just seems logical to me. I could use all kinds of fancy indicators, but the chart just tells me thsi.
It also corresponds to a correction in BTCUSD. Comparing those works always great for confirmation for me.
Note
Looks ready for next dive towards the target Note
Situations can change fast in crypto...ETH trying to break out to the upside which might change my view for a dip to the downside......wait and see
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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.