ETH Mid Term Analysis - ATH $2,500
Hi TradingView friends,
There is some fun in using such a powerful tool as TradingView, let your thoughts take form onto a chart!
Here is a game we like to play at Alteroc, dare to do a mid-term forecast for the next upcoming bull run.
This ETH analysis was based on:
- Historical price channels
- Support and Resistance lines
- Fibonacci retracement from previous buy market
- Fibonacci extension based on 1st wave from $360 to $830
- Elliot Waves theory
Based on those assumptions we came out with 2 profit targets:
1st TP --> $1,590
2nd TP --> $2,540
Of course numerous trades can be performed during the period, this is an high level chart idea for profiles such as occasional traders.
We do expect a 60% correction after an ATH of $2,540 which might take the form of a Head & Shoulders pattern.
Word of advice, always set stop loss, know when to take profit and let the correction clear technical indicators as well as allowing new buyers to enter the market.
Of course this forecast is not a financial advice, study, exercise yourself, put into question your reasoning. Well, strive to be a better trader tomorrow than we are today.
All the Best from the Crypto Space
Alteroc
AI Trader assistant, includes Bitmex (15% discount) --> app.aitrader.ai/referral/ap3m9
twitter.com/alteroc_trading
There is some fun in using such a powerful tool as TradingView, let your thoughts take form onto a chart!
Here is a game we like to play at Alteroc, dare to do a mid-term forecast for the next upcoming bull run.
This ETH analysis was based on:
- Historical price channels
- Support and Resistance lines
- Fibonacci retracement from previous buy market
- Fibonacci extension based on 1st wave from $360 to $830
- Elliot Waves theory
Based on those assumptions we came out with 2 profit targets:
1st TP --> $1,590
2nd TP --> $2,540
Of course numerous trades can be performed during the period, this is an high level chart idea for profiles such as occasional traders.
We do expect a 60% correction after an ATH of $2,540 which might take the form of a Head & Shoulders pattern.
Word of advice, always set stop loss, know when to take profit and let the correction clear technical indicators as well as allowing new buyers to enter the market.
Of course this forecast is not a financial advice, study, exercise yourself, put into question your reasoning. Well, strive to be a better trader tomorrow than we are today.
All the Best from the Crypto Space
Alteroc
AI Trader assistant, includes Bitmex (15% discount) --> app.aitrader.ai/referral/ap3m9
twitter.com/alteroc_trading
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