Ethereum | 2018 ForecastWell, here we are... another new year is almost near! I wanted to share my outlook for Ethereum for 2018. I use a simple trend strategy, composed of fibo channels, multi-time period charts, and an RSI/MFL combo. I'm anticipating lots of volatility closing out 2017 and at the beginning of the year for the start of a new market cycle. We may even see prices trade around the $100 USD mark or lower if we are lucky and a pattern plays out similar to the ones we've experienced in the past. Of course, I think this depends on how the market decides to price Bitcoin.
Notice here I have both Ethereum against Bitcoin and the Dollar. I use this kind of comparative analysis to gauge entry and exit levels, but also the cryptos to accumulate. The ETHBTC chart looks like a buy at this time. However, because I live and borrow in fiat currency, its in my best interest to accumulate the USD. So my primary concern is the chart on the left, with the chart on the right giving me additional signals, particularly the idea that it may outperform the raging Bitcoin bull itself. For now, I'm sitting on the sidelines in cash, waiting. Ultimately, Ethereum looks like a good candidate within the sector to invest in.
PLEASE NOTE: Currently I hold no Ethereum, and this is not a recommendation to invest at the particular levels I have highlighted. This is simply my plan, which will become active or invalidated depending on market conditions at various points in time.
Cheers and good luck investing and trading in this volatile asset space.
-Erik
