Ethereum poised to bounce towards 1500$

Ethereum down the middle of to supply zone, after an almost complete ABC correction.
Overextended TD count and descending broadening wedge .

Provided key support at about 1100$ holds (daily close matters), a bounce towards #TP1 at 1430-1510$ would likely follow.

Highly risky and speculative trade, for traders only.
Watch support, tune your entry, have a stop.

DYOR

評論:

It's moving slow and likely to meet upper boind of broadenoing wedge a bit lower than i would originally expect:

Such test will be crucial.

評論:

A look at weekly: key MA20/W sits at target range low.

評論:

Meaning that Ethereum is pretty close to a key resistance area.
Let's watch it.

評論:

High at 1525$, target reached already.
Yet personally i'm here for the long run.

It took quite some time, but was definetely worth it.
As usual, DYOR and protect your gains.

評論:

Current chart:

Enough for the scope of this analysis.

評論:

Sidenote: Broadening Wedge breakout should be confirmed on close.

Watch it.

評論:

Ethereum close to resistance on hight TD count.
Possible topping pattern, taking partial profit.

評論:

Closing, as target was reached .
Enough for the scope of current analysis.

評論:

Trying to find a breakout.

Will let this trade run and wait for BTC.

Won't double down on Ethereum here though, too risky.
In case of a strong breakout i'm confident some lagging alts will provide me better R:R from here.

評論:

Will provide further analysis on ETH later, but it's too soon to judge.
For now i'm just adding the above note.

評論:

Eyes on ETH.

評論:

If it manages to break through 1820$ ...

Key resistance.