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Etherium

ETHUSDT - A reversal in progress??I use a method of analysis using the Fibonacci re-tracement where I mark out the lowest low to the next highest high (for an up trend), which then becomes the FIB range to work within (A - B) . In order for this FIB range (A - B) to be valid, we need to have the highs of two candles lower on either side of the highest high. Depending on where the market falls to within this (A - B) range determines the target on the next rally. More often than not the target is hit (D) to the "pip" at which stage a new FIB range is established. On a rally(up or down), it has been typically observed for 7 - 11 candles, and as we get to within this range of 7 - 11 candles, we need to be cautious of a short term reversal or pull back. As with BTCUSDT the past several weeks ETH has enjoyed a rally to make an all time high of 396 which is the -0.27 of the FIB Level - the target D for the previous FIB level was 341. After several weeks of rallying, last week saw a new low set of 258 and a break of the inner trend line which is the first step of creating a crown. Currently it is at the right tip of the crown formation, so we can expect a fall down to the d target of the sub-FIB to 220 which is also a support level at the 0.5% of the capital ABCD FIB pattern. I expect this reversal will happen over the next few days and after hitting this target it should pull back to 315 mark which I believe will happen before the end of this week. As normal let me know what you think and follow me to keep up to date with this analysis.
Short
by Nica521
1
Etherium Pull Back is imminent On May 21, 2017 we see ETH's largest daily upside wick combined with the largest trading volume since March of 2016. While ETH has enjoyed increasing adoption among institutions, investors and new applications, the ETH Market Cap has skyrocketed past these continuing positive developments creating an element of 'no end in sight' among short term traders. ETH circulation currently stands at 91,841,563 ETH and enjoys a market cap of $15,801,891,910. The market cap has more than doubled within six weeks. This is unsustainable especially when one considers the rate of adoption. This being said, ETH remains the 'GOTO' platform for development of many new ICOs and innovative uses of Blockchain technology and in no way should this recommendation be considered a long term negative view of the platform. It is my view ETH will retrace from these levels to a relatively short period of consolidation, lasting approximately 6 to 12 weeks while investors and speculators take profit and seek alternative places to avoid holding 'stale' money. Please do not consider this to be investment advice and use good practice by consulting an investment professional before taking risk. Sources:https://www.ethereum.org/ether coinmarketcap.com
BITFINEX:ETHUSDShort
by ljs411
7