ETP Revisited - next target 69KSat, 4.7$
Updated
Zoom back into daily mode, I tried to find the Elliot trends and decided to move the end of wave 3 to the new high. It seems to make more sense to me more than ending wave 5 and making a new Elliot waves.
In ETPBTC pair, the support is strong around 35KSat which hasn't been touched but kept at higher support at 39KSat. This should be a good buy zone if it will ever reach there again.
In ETPUSD pair, the support is strong around 2.62$ That should create a buy zone from 2.2$ for USD pair.
To predicting the next target using the previous high since November 2017, ETP should reach as high as 57KSat+ to 69KSat which should complete the whole Elliot wave cycle. For USD pair, the gap is somewhat narrower at 4.4$ to 4.7$
ETP may reach target sooner if BTC go sideways at 7K range, which seems to be the summer time for other altcoins as well.
Trader is advised to check ETPUSDLONG which is insanely high, if the long is still maintained at this so high ratio to ETPUSDSHORT, the target is so certain. But we all know the risk is high too. The positive thought is that only a few whales have been behind this high since 0.5$ so that the chain liquidation is unlikely in case of market crash.
Many people feel uncomfortable using TA in crypto, IMO.. it helps trader to decide where to place an order for maximum benefit. TA is not the holy grail. But we all need to have something to hold even crypto is gambling. Making a blind order and hoping for price to rise is not wise. And afterall, a bit of juice to keep our brain running is better than nothing.
This is not an investment advice but pure pleasure to me to be part of this journey.
In ETPBTC pair, the support is strong around 35KSat which hasn't been touched but kept at higher support at 39KSat. This should be a good buy zone if it will ever reach there again.
In ETPUSD pair, the support is strong around 2.62$ That should create a buy zone from 2.2$ for USD pair.
To predicting the next target using the previous high since November 2017, ETP should reach as high as 57KSat+ to 69KSat which should complete the whole Elliot wave cycle. For USD pair, the gap is somewhat narrower at 4.4$ to 4.7$
ETP may reach target sooner if BTC go sideways at 7K range, which seems to be the summer time for other altcoins as well.
Trader is advised to check ETPUSDLONG which is insanely high, if the long is still maintained at this so high ratio to ETPUSDSHORT, the target is so certain. But we all know the risk is high too. The positive thought is that only a few whales have been behind this high since 0.5$ so that the chain liquidation is unlikely in case of market crash.
Many people feel uncomfortable using TA in crypto, IMO.. it helps trader to decide where to place an order for maximum benefit. TA is not the holy grail. But we all need to have something to hold even crypto is gambling. Making a blind order and hoping for price to rise is not wise. And afterall, a bit of juice to keep our brain running is better than nothing.
This is not an investment advice but pure pleasure to me to be part of this journey.
Note
Zoom in to hourly mode. Let's see if this beast can find a new support at 46KSat or 3.1$ and create the new trend channel.
Note
44.4KSat 3.083$ (Fib 618 seems to be a support from the strong volume)
I think that would be a good buy zone for people to enter here
Note
Oh my bad eye sight looking at the volume indicator.Here is indeed the good buy zone due to past high volume buy order
47KSAT 3.3$
Note
Note
ETP Bounced at ETPBTC Support
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