Short

Updated

ETH retrace possibilities

The larger correction is starting to appear like an ABCDE instead of just an ABC.
So looking at three possible scenarios.
The red 'e' is probably the ultimate target of the correction.
But I think there might be some bounces before, thus the 12345's before then, unless this proceeds without any bounce.

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Drop stalled at the 2.618 which is expectable.
The bounce so far is not impressive.

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Bounce from first zone holding up so far.
But I think it is only matter of time before next lower zone is visited.
Am measuring the bounce for any signs of actual revesral as opposed to profit taking.

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Bounce from expected retrace zone looking pretty good now.
Next hurdle is 690, and then of course 700, but if bulls break 690, I expect 700 to break pretty soon after.

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I am liking this ETH action. Went right for the hard wall.

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If ETH gets above 690 again without even hitting 680, that to me a very bullish sign

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Lets see if one of these play out

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Lets see if this works

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Back to the orange line at 690

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Nice! break of orange line and retested.
Should be good to go.,... famous last words?

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Bit of a struggle with the 690, but still looking good

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One last chance for bears to test 675 range

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ETH bears have either given up or camping much higher

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ETH drilling for oil?

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ETH struggling at resistance, but looking quite bullish to me

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Fibs doing their thing

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OK bounce so far.
Might be able to attack the red zones above

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Just noticed another possible band of support

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close up of the support bands derived from fib resonances

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ETH smacked into serious Fib resistance, AND the weekly Pivot. Time for a rest?

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Each of these green zones were derived from Fib resonances.
Notice the price knowing/respecting each of the bands.

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ETH making a run for the next band.
Not much in the way until 728-730

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ETH support seems to be holding. Maybe completed the requisite ABC via 38.2 to 618

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ETH fighting resistance again

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EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag