ETHUSDT - Important Trend lines and Price Action

There was a lot of big news for Ethereum at the Consensus 2017. Following all of the good news, we see that the price of Ether followed suit. I have drawn (in black) some important trend lines to make note. The Ethereum chart looks beautiful in such that it plays perfectly with the fib retracements. We see a strong upward momentum by looking at the lower trend line that touches the higher-lows. Right above that we see another trend line showing all of the higher-highs. We can assume that the price will start to retrace eventually because the higher-highs and the higher-lows are building a triangle. If you were to project the trends they would eventually meet. However, don't expect to wait that long for the price to retrace a bit. We see strong support at .236 fib. And the price just now bounced off of the top fib line. I have drawn 3 (projected) lines where I think the price would go. We're hoping the price would bounce back to $193 or down to the .236 fib to keep that lower trend moving upward.

I don't expect to see significant pull back but don't be surprised if you see bounce around some trend lines or fibs.
I'm (extremely) long on this one! So keep your Ether safe, secure, and ride the rollercoaster with me :)

評論:

There it goes, hitting $193

取消訂單:

Ethereum crashed through all support lines.

評論:

Waiting to see if it'll find support at .382. If not, then I'm expecting it to hold at 0.5 because that was it's support line right before it popped on 5/23.