I have been seeing the people flout the target of $20,000 for Ethereum, so thought I would have some fun at trying to predict how it might get there!!
1) ETH starts run bull Dec 2016.
Pumps approx 7057%
2) ETH the retraces approx 70% to a price of approx $130.
Draw a fib retracement from the high of the pump at $422 to the bottom at $130
The 4.236 then lines up with the top of the second pump which terminates at approx $1400 (end of 2017-18 bull run).
3) Taking a fib from $1400 top to $80 bottom, the 4.236 now lines up with a 7172% pump.
This is approx the same as the move from Dec 16 till June 17, before the 70% correction.
This could target a potential target of $5711.12 before a large second correction.
4) Lets presume we get a correction here at $5711.
We might be able to find a top if this fractal plays out.
..and if it does another K-shaped reversal.
In this example it would hit approx $20K.
which is a figure I've seen floated a lot for ETH...
and ties in with BTC top last cycle!
1) ETH starts run bull Dec 2016.
Pumps approx 7057%
2) ETH the retraces approx 70% to a price of approx $130.
Draw a fib retracement from the high of the pump at $422 to the bottom at $130
The 4.236 then lines up with the top of the second pump which terminates at approx $1400 (end of 2017-18 bull run).
3) Taking a fib from $1400 top to $80 bottom, the 4.236 now lines up with a 7172% pump.
This is approx the same as the move from Dec 16 till June 17, before the 70% correction.
This could target a potential target of $5711.12 before a large second correction.
4) Lets presume we get a correction here at $5711.
We might be able to find a top if this fractal plays out.
..and if it does another K-shaped reversal.
In this example it would hit approx $20K.
which is a figure I've seen floated a lot for ETH...
and ties in with BTC top last cycle!