Looking like we will see we will see a mild correction from ETH/USD that will cause some minor consolidation down to $75 before we continue towards the new goal of $150 following the previous Elliott wave.
Dates to look out for:
* ETH back in the low 90s tomorrow 5/12 * ETH Double bottoms at $75 around Tuesday 5/16 * The market shifts and the trend continues all the way past $100 but only to $110 * Minor correction to follow the previous run up down to the new support at $100 (around the 5/24) * Steady movement to further continue the trend upwards all the way to the new top at $150 in the last days of May.
評論
⋅
Update 5/12: Looks like I may have not read (B) correctly and put it retesting 100 when it should be lower than (5). In any case, things are progressing and we should see $75 in the next few days.
評論
⋅
Update 5/19: Blast-off happened a bit earlier than predicted and with a local low higher than expected. $150 USD may be under the top for this run. 150-200 for sure at this rate.
This looks awesome but the 3rd line is always longer than the 1st. Why 3 is not (i) and 4 (ii)?
zebrains
⋅
Hmm, you make a solid point. I'll look things over and see if some adjustments still fit the chart.
neanderthil
⋅
How do you determine where to put the second fibonnaci retrace on the right?
zebrains
⋅
@neanderthil, The first run-up was from ~$50 to ~$100. With the consolidation to $75, a repeat of the same pattern would seem to sit around $150. $150 also happens to be a psychological resistance level just like $100 is right now.
AOMINEDAIKI999
⋅
@zebrains, Hey dont know much about this stuff. Like fibonnaci retraces. Any recommendations on where to learn this stuff. Think I'm a smart guy so I think I can handle whatever you recommend me! Thanks
zebrains
⋅
Youtube is a good place to start. That and lots of practice. Avoid making any trades until you have a good idea of what you are doing.
Finally, never assume that you actually know what you are doing :P There is always more to learn.