Using a combination of: -Technical trend analysis -Fibonacci Extension -Stock 2 Flow Model estimates Let's hope we do at least as well as this if not better :-)
Rising wedge seen on the STF chart for ETH. Be aware these are usually bearish with continuation to the downside back to the previous tested levels around 3,950-4,050.
Typical descending wedge pattern Breakout should be within next 4-6 hours Upside target - US$60k Downside target - mid US$57k
1) Even assuming we retrace all the way back to the mid 50s on this current pull back 2) Even assuming only half the growth trajectory we saw end of 2020 to the previous ATH it is clear that BTC has at least 40-45% further upside from the lows of 30k seen in July 2021. This is extremely conservative, and we are likely to get much higher, and much sooner than this!
Using the Fib extension and the 100% line, based on current uptrend, it seems as if we may reach the previous ATH by mid October. Tell me I'm wrong :-)
Fib extension and current trend analysis suggests BINANCE:ETHUSDT could hit US$4,000 within 5 days and hit the 100% line by the 21st. Watch this space and let us all hope the trend rides out to the moon :-)
LUNA is now on a confirmed long term uptrend and should reach low 60s in the next 2 weeks. If not then I will eat my hat! :-)
Based on very simple TA using current downtrend. BTC reached somewhat of a peak last night around 55k and is now retracing back towards the 200SMA on the hourly chart.