Hi, so I'm posting a YT video on ETH & this is the chart that comes with it.
We see that ABC correction coincided with the "ABCD" legs of the bullish bat. Now the first target would be the .618 of the CD leg, while the second XA projected from D.
We can see that .618 is also the neckline & it's around $1000 psychological threshold.
For this reason, I believe
1K is going to be a critical resistance.
My next target would be $1.65k, which coincides with the 2.618 of Wave 3 of the previous cycle.
We see that ABC correction coincided with the "ABCD" legs of the bullish bat. Now the first target would be the .618 of the CD leg, while the second XA projected from D.
We can see that .618 is also the neckline & it's around $1000 psychological threshold.
For this reason, I believe
1K is going to be a critical resistance.My next target would be $1.65k, which coincides with the 2.618 of Wave 3 of the previous cycle.
Note
$980 / 1K coming up. Could be interesting to see if ETH needs to take a breathe
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Related publications
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.