ETHUSD retrace watch: Etherrium hit targets + buy again zones

Updated

Quick short term outook with support zones worth watching.

This is a follow up to my expected top (which was surpassed by a blow off top and thus the large retrace)

ETHUSD study of Elliot Waves and Fibonacci: Etherium waves

Note

ETH might be starting an impulse off my first support zone

Note

Just hit first resistance and was definitely noticed

Note

Go ETH. It may have confirmed previous resistance as new support. Check out the EXACT bounces on the red zone, the boundaries of which were clalculated from Fib Ratios

Note

Another EXACT bounce

but is a bit concerning for bull view. Ideally it should not have come back to it at all. Each time it is hit, it will become weaker. Next approach will probably go right through. So bulls need to pull away from it as quickly as possible.
.
.

Note

Here it comes again, lets see if it holds a third time

Note

Rut Roh

let see if it can come back into the red zone quickly. If not, it will fall quite a bit more
.

Note

Oh boy, an exact bounce on same line only in OTHER direction.

I would not be surprised to see price come back up and test the LOWER boundary and if it rejects from it, down we go.....

.

Note

Bad sign for bulls, could not even retest bottom of zone

:(
.

Note

This should be the last test of this support. either it Bounces like a Beast or Sinks like a Stone

Note

Rut Roh, this recent support zone is now at risk of turning into Resistance

Note

My ''Ideal Entry'' zone looking better and better

Note

Just spotted a new possible support zone before my Idea Entry zone

Note

Here we are, limit buys picked up

EuroMotif

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

Related publications

ETHUSD study of Elliot Waves and Fibonacci: Etherium waves

by EuroMotif

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.