Ethereum's repeating steps

It is clear Ethereum is working in steps, as you can see by the channels marked in green, the size of the steps is increasing, I believe Ethereum will follow this same pattern and currently offers a trading opportunity with entry at 1045, with a stop loss of 991 and a profit target of 1190. It is then likely to drop back down to around our buy-in zone for another entry point before moving onto the next step as it breaks out of the current channel. Alternatively just hold through this preriod for the longer term gains

Note

As we can see the price is currently bouncing off the support formed by the first peak within this channel (marked by the blue horizontal lines), we may see a brief dip below this as in the previous channels, but in all cases, the price has recovered quickly following (within a day or 2 at most).

Just a reminder I have no technical expertise and this is simply an observation of repeating patterns, past behaviour is not necessarily an indicator of future behaviour and it will definitely be interesting to see how the futures closing on the 26th will affect the market as a whole.

Note

Apologies for the slow update, obviously this setup has broken down somewhat due to the overall market sentiment/situation. Obviously, Ethereum is greatly affected by the overall situation with ICO's, but going into this year as long as a large number of new projects are launching on Ethereum it's bound to have excellent growth. Anyway, I hope a few of you got in on the initial trade and had a proportional stop in place to add back in while it's low.

slamu

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