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Ethereum / Bitcoin
Long
Updated

$ETH to .125 Possible repeat market cycle fractal from 2016

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Looking strong against USD, as BTC corrects, I think we could see an ETH breakout against it as well. This idea is taking from the market cycle fractal in 2016 and applying it here.

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and AWAYYYYY WE GOOOO! - Rick Sanchez
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Although we saw a pullback today while Bitcoin was spiking, the ETH/USD value is in a strong trend. We could see a breakout if BTC stalls or moves down
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Looking great. Starting to get into some resistance areas against USD.
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Just tagged it. Time for a correction
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Going to close this. I wasn't expecting BTC to climb so much while the ETH was also rising. ETH has now reversed at it's previous high against USD and I think we are about to see a BTC correction:

Bitcoin Correction
Trade closed manually
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Neither BTC nor ETH dumped nearly as far as I thought they would. I'm not sure what to make of ETH at this point in time other than a bounce off its previous swing high at $265. It is possible that it could make another run to ATH, just like it did during its last market cycle:

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But with the recent news of China banning ICOs, I think that is less likely to happen now than it was before.
Beastlorion
Also on:
Chart PatternsTrend Analysis

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Chart PatternsTrend Analysis
Beastlorion
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.