ETH hit my targets for last long entries and even went to the ''bonus'' area.
Now it looks like a correction is starting.
If so, it should decline pretty soon here.
Of course, it is very bullish right now and may just keep going up until the Constantinople fork.
New higher high would invalidate this plan.
Background:
My ETH journey started a Fib observation from the bottom
Once that played out, I was looking for the retrace zones to enter long again
Above zones played out and as bounce progressed I saw 152 and 156 as possible targets
Now it looks to have topped for now, so am watching the retrace again with the current plan above
Now it looks like a correction is starting.
If so, it should decline pretty soon here.
Of course, it is very bullish right now and may just keep going up until the Constantinople fork.
New higher high would invalidate this plan.
Background:
My ETH journey started a Fib observation from the bottom
Once that played out, I was looking for the retrace zones to enter long again
Above zones played out and as bounce progressed I saw 152 and 156 as possible targets
Now it looks to have topped for now, so am watching the retrace again with the current plan above
Note
Retrace on track thus far .
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Note
the 2.382 mentioned above broke, next up the 3.382 Note
That 2.382 has now confirmed it's relevance, and thus added to the relevance of the this blue fib series Note
ETH bounced out of nowhere .
.
Note
ETH at 146 still looking good for possible buy in Note
ETH still on the road map alreay plotted. .
Note
Here we GO, time to watch VERY closely Note
Nice! Note
Here we are, at an important fib. the 3.382 under attack Note
ETH nice! an EXACT bounce from the fib zone expected .
.
Note
1min plost lol, but that confirmation of the 1.618 is a great sign Note
Decent bounce off top of zone after bounce from bottom of same zone .
.
Note
ETH following the the fib / ew plan nicely, but 150 will be key/big resistance , with a test coming at the blue 2.618 Note
Blue fib proven valid again by the resistance at the 2.618 Note
Nice! 2.618 broken with strength. 150 seems very very likely Note
Here comes the retest of the 2.618. I am hoping not just for a hold but a strong bonce off it Note
I am falling asleep in chair, so this is my last update for a few hours: bulls need to break 156.88, to attack the next resistance zones in red .
.
Note
Bounce was cut short by Bitcoin dumping. Here is what we have as continuation of pics above To evaluate this move, this Fib series locked in right away
Zooming back out a bit and EUREKA
BUT zooming out a bit more, and with the green fib of move up
Overall, the significant bounce above the second defense zone is a good sign. Will update further after I fully wake up :)
Note
Looks like bulls have retaken the original first support zone. And even the retest looks good. Am watching closely here Note
Closeup inspection shows a clear Impulse wave that ended at the 4.236, after confirming each key level Note
After evaluating the above charts, I am seriously worried about another leg down to sub 140, per this plot 
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the Trading View is my Nation
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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.