ETHUSD Analysis | Fibonacci + MACD Fractal, Ichimoku Cloud
Apologies for the messy chart. I will start off explaining the main point of this idea: The Fibonacci Fracal + MACD Fractal. The MACD fractal has not happened yet, but as you can see, a similar pump in August occurred where the 0.382 Fib Level acted as complete resistance which was followed by an extreme selloff for 
Ethereum.
Currently, that same level has acted as resistance for price, and the MACD looks very similar. As pointed out in the text box, the only difference in this idea is that the Ichimoku Cloud is displaying a bullish trend.
The play on this would be to wait and see if the 0.236 Fib Level acts as support, and to accumulate for a breakout of the 0.328. Be sure volume is confluent with the price action and set a stop loss at a technical indication.
Accumulation Price: $186
Profit Target: $205
Stop Loss: $180
https://balkoins.com
Ethereum. Currently, that same level has acted as resistance for price, and the MACD looks very similar. As pointed out in the text box, the only difference in this idea is that the Ichimoku Cloud is displaying a bullish trend.
The play on this would be to wait and see if the 0.236 Fib Level acts as support, and to accumulate for a breakout of the 0.328. Be sure volume is confluent with the price action and set a stop loss at a technical indication.
Accumulation Price: $186
Profit Target: $205
Stop Loss: $180
https://balkoins.com
Note
Update:Unfortunately, price did not touch back down like anticipated. Also, we were not watching the asset closely enough to notice the volume spike and close above the 0.328 level; therefore no position was made.
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