eth 8\15 updateeth has a similar structure to btc right now, with one extra addition.
it's in a 1-2 1-2 formation, which is extremely bullish.
i think these next few waves take eth to all time highs to complete wave (1) on the higher degree, from there we should in theory see a 61.80% retracement, unless it so chooses to continue expanding like it has been to date lol.
it can't expand forever though, eventually wave (1) will be in and we'll get a pretty big dip to shake some people out before resumption to our 11k upside target.
long eth at 3111
tp1: 3.9k
tp2: 4k
tp3: 4.1
ETHPERP
Ethereum (ETH) • Hitting support again but macro trends weak Ethereum still looking terrible. Didn't break major resistance levels and now retesting lower lows once again.
No reason to be bullish on ethereum while we don't see significant bounce on strong volumes but also breaking the dynamic trendlines and quarterly opens outlines in the video.
Buy $ETH - Breaker/Mitigation Smart Money SetupPrice hit the 15 min Fair value Gap and retraced to the bottom of the breaker. that was the best time to buy. And I would be aiming for the next fair value gap above the current high. Take some profit off at the first high though.
Just simple naked chart trading. You don't need fancy indicators. All you need is how to understand what the algorithm is going to do and know the specific institutional levels.
Just My thoughts
Decision TimeETH has tested support on this orderblock and if it successfully breaks resistance I'm looking price action to hit the 2400 level, if that level is flipped support targets can extend to the previous high of the range at 2900. Keep in mind that ETH has it's event this month and the age old story is....Buy The Rumor and Sell The News. Take care everyone, have a great day/night!