- Forming last ABCDE pulse, looking to break ATM
- Possible short position available after final pulse up.
- Potential repeat of Ripple with strong final surge up.
- For strong final surge upward towards $1500-$1644, looking for strengthening in DMI (last 7 4h candles in green)
I posted a short while ago that Ethereum might repeat the Ripple ABCDE formation with a reprice downwards. Ethereum is now on it's final pulse up though for a convincing surge upwards, it would need to break through it's current ATH of $1378. I'm keeping my eye on the DMI to strengthen with the +DI (green line) to move upwards above the red -DI and the index (blue) to move higher.
Final legs of ABCDE can be short -> let's see how this one plays out before reprice downwards. If it follows Ripple's pattern it will reach the $1500. Ripple did a very strong final pulse but for Ethereum, that second pulse upward was very elongated and I'd be surprised to see a repeat of that.
And now for the disclosure!
** This information is for educational purposes only and not intended for advice on trading **
- Possible short position available after final pulse up.
- Potential repeat of Ripple with strong final surge up.
- For strong final surge upward towards $1500-$1644, looking for strengthening in DMI (last 7 4h candles in green)
I posted a short while ago that Ethereum might repeat the Ripple ABCDE formation with a reprice downwards. Ethereum is now on it's final pulse up though for a convincing surge upwards, it would need to break through it's current ATH of $1378. I'm keeping my eye on the DMI to strengthen with the +DI (green line) to move upwards above the red -DI and the index (blue) to move higher.
Final legs of ABCDE can be short -> let's see how this one plays out before reprice downwards. If it follows Ripple's pattern it will reach the $1500. Ripple did a very strong final pulse but for Ethereum, that second pulse upward was very elongated and I'd be surprised to see a repeat of that.
And now for the disclosure!
** This information is for educational purposes only and not intended for advice on trading **
Note
Just realised that the starting point of the ABCDE isn't technically correct as the second pulse shouldn't be that short. Either way, revising the next points of resistance to be:- ATH of $1378
- Fib extension 1475
- FIb extension 1581
Note
And it breaks ATH - now to 1475Note
Eth finishes the final leg up. Didn't quite muster enough strength to reach above $1,500Expecting a reprice down though should stay above $1k.
Note
Showing signs of strong support above 1261 now.
** This information is for educational purposes only and is not advice for investments or trading **
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.
** This information is for educational purposes only and is not advice for investments or trading **
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.