Long

ETH done or last leg to 880?

Updated

For me, this is NOT a good place to buy.
The move up may well be DONE at the dark green 1.618 fib.

But just wondering if ETH has one more push on Sunday.
Monday is US SEC news, which will probably hurt it regardless.
If SEC talks about ETH being a security, expect a massive sell off.

So just wondering if sell before then, or wait for one last push up....

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For some reason the chart will not 'Play' above.
So current update:

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Fine tuned possible bounce zone, 750'ish
Again, NOT gonna buy, just watching.

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Just some fine tuning of the fibs.
$750 still looks like a possible bounce point.

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Hit zone nicely, picking up some of my limit buys.
I have now closed the position with profit,
Will re-evaluate but probably no more trades until after Monday SEC hearing.

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WOW, looks like 880 is still on the table.
Just noticed this fib behavior:

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Uh uh, just broke the 382 fib.
But there are two other high tf fibs holding it up for now.
Last call is the local 50 fib.
If it breaks those fibs, then 880 will have to wait

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ETH has not given up the 880 dream .... yet...
So I guess I wont either

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Just will not leave me out of this.
Keeps whispering 800 to me.
Siren's song surely, right?

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The 880 dream is getting farther and farther away, but not quite out of sight yet....

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The absolute LAST chance to convince bulls she is not ded yet.
But with SEC news in a few hours, I think there will be much more selling.
So 880 dream about the BURST, but again, I did not expect it, just fascinated it has move us this much

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Praise Be to the Believers.

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Bounce looks to be holding

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The Dream will NOT be Denied!

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Watching this micro action:

to see if a wave3 is starting:

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I do think Wave 3 has started.
880 still target.
Gotta give ETH believers for not losing sight of that target.

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ETH looking ultra bull. wave 3 extended to 3.618 and bears having a tough time painting ABC retrace

800 might be on the table within next couple hours

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This impulse does turn out to be in wave 5 after wave 4 ended, THEN:
It seems ETH is having wave 4's pull back all the way to wave 1:

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Not just in that short time frame either.
Here is an example from yesterday on the 1h:

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And another example of a wave 1 ''brush'' by wave 4 on the 4 hour:

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Might restest 700.
The big three are all hunting for support at key levels.
BTC looking to test 9000, LTC looking to test 150, so ETH test 700 is plausible.

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Coming up a crucial zone:
5 waves down done and move up?
Or is Wave 4 still about to end and start wave 5?
ETH w4's have been hitting close to w1's thus the crucial moment here.

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Bounce a bit exactly where expected, but I am not very confident it will hold ;(

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Oh well, now I retreat to 700 and watch.
double bottoms are NOT common, so I think it might break.
Depends on EU does soon and US does in morning.

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No matter which way I look it, 700 keeps attracting all my lines

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ETH still looks to retest 700. Pardon all the lines, it gets messy when trying to fine tune a ''bottom''

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Watching this for clues to the validity of my fibs

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Pushed nicely into my target zone

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Nice pullback. Now planning retrace paths

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ETH 880 is still not off the table

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Back to my near term resistance box.
I am hoping it will pull back now, and finish a minor ABC

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OOOPS, wrong picture above.
It should be this one, where it is ETH and showing my previous red box ,etc

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ETH did fall from my Red but went right through by green:

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However, on very close inspection, the fib lines prove to be the heartbeat of ETH lately. So will work with that to evaluate further, and post a new plan at this time:

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ETH hung in there ok.
Please the 618's down

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MIGHT have found bottom, but I an suspicious.
The fibs and ew waves say 600 retest possible.

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I am thinking ABC correction done.
We now have a perfect 12345 impulse going up.
It has passed the thresholds where a wave 4 (shown in last snap) is allowed, so that 12345 of C is done.

EuroMotif

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