ETH Setting Reaccumulation Rate with Price Hovering Around SOS
Updated
As BTC consolidates around 34k range. ETH is setting up a nice ascending triangle with higher lows from $1000 to $1100 to $1200 to $1300 for almost 3-4 weeks. 1 day view has a strong ema support as well as squeezing bollinger bands which is projecting a big move within 2-5 days.
From wykoff standpoint, that same time frame presenting a huge reaccumulation range with price currently hovering around SOS (Sign Of Strength). There is heavy ema support on all time frames up to 1d. Although there is a 1 week ema gap for $1054 drop, i'd lean toward ETH SOS leading to potential breakout.
ETHBTC not yet near all time high of .12 sats. If we project out from current sats at 0.042 sats, we're look at potential 3x from current BTC price. That would bring us to a target of $4200 per ETH. Not sure if it would get that high but $2400-3000 seems like realistic range.
From wykoff standpoint, that same time frame presenting a huge reaccumulation range with price currently hovering around SOS (Sign Of Strength). There is heavy ema support on all time frames up to 1d. Although there is a 1 week ema gap for $1054 drop, i'd lean toward ETH SOS leading to potential breakout.
ETHBTC not yet near all time high of .12 sats. If we project out from current sats at 0.042 sats, we're look at potential 3x from current BTC price. That would bring us to a target of $4200 per ETH. Not sure if it would get that high but $2400-3000 seems like realistic range.
Trade closed: target reached
I should really try to update more here but I sold most my ETH at 4.2k back in May. Bband spike was wayy too high with weekly candle overextended. I honestly had new 8-10K target but the momentum was so strong and news was so positive that I felt it was unsustainable at the time. I did leave my BTC alone just in case crypto wanted to keep running this way I know I locked in some gains while not fully missing out if crypto continued to run. Will update reentry targets later. Trying to stay very patient for reentry.
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