ETHUSD ready for another leg UP? Ethereum's Line in the Sand
Updated
Looks like an ABC correction might be done.
The key price is 152.74 at the green 3.618 Fib.
That Fib has been in control of the entire move .
If bulls can break and hold (prove as support) that 3.618 then next leg up should start.
.
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
Then I saw the top coming, sold, and was looking for re-entry zones:
Got some long scalps in per above plan, then I saw another leg down to come
So next was plan to look for retrace zones to buy back in:
As per above plan, sold at 160 and wondering if correction is done with the current plot:
The key price is 152.74 at the green 3.618 Fib.
That Fib has been in control of the entire move .
If bulls can break and hold (prove as support) that 3.618 then next leg up should start.
.
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
Then I saw the top coming, sold, and was looking for re-entry zones:
Got some long scalps in per above plan, then I saw another leg down to come
So next was plan to look for retrace zones to buy back in:
As per above plan, sold at 160 and wondering if correction is done with the current plot:
Note
We have a break. Now we need to see it establish as support Note
Here we go? Note
Good sign: bulls recognized the importance of 152.74 and are trying hard to hold it. .
Note
Bulls trying again .
Note
Rut Roh ETH .
Note
IMPORTANT (and long) UPDATE: ETH broke out of that pesky 3.618
So taking a closer look at the main move on 1 min reveals quite a bit, see notes on pic.
Zooming out a bit I see one more possible fib
All in all, I am NOT impressed. This shift in ETH looks like gravitational effects of BTC. It was dragged along, not making its own momentum.
Note
That red zone we defined above is clearly relevant Note
And THAT folks, is how RESISTANCE is made Note
Resistance it was ,
Note
ETH first glance says 152 should be support 
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