Take Aways
1. Clearly Price on the weekly chart respects and reacts to the Fibonacci levels
2. Ethereum current bull market is showing clear signs of reduced returns and lengthening cycles.
3. Fibonacci extention in current bull market compaired to last inital bull market of 2018 show we are reacting 1 fib level under to prior moves. Our current pull back 8/17 is reacting 2 fib levels lower then the mid bull pullback period of 2017.
4. What we can conclude is that the price should be expected to hit $8,000 in mid to late December at the 1.68 fib level and top out at $9,000 this would be in line with being (2) two fib levels down from the returns in 2017. If we can get to just one fib level under then we can reach $12,300 fib price level in Early January. If we could touch the same level as the last bull run that would place ethereum at $16,000 max bull market but would violate the evidence we have seen so far for diminished returns. ( reduced price by 1 to 2 fib levels ) My target for end of the bull run is $9,000 to max $12,300 with the most likely being the $8,000 to $9,000 range to take profit in 25 Dec. If we get a January rally like last bull market then that could drive the price over $9,000 to hit $12,300 fib level which is 1 fib lower than 2017 bull market top. See chart for images. #ethereum
1. Clearly Price on the weekly chart respects and reacts to the Fibonacci levels
2. Ethereum current bull market is showing clear signs of reduced returns and lengthening cycles.
3. Fibonacci extention in current bull market compaired to last inital bull market of 2018 show we are reacting 1 fib level under to prior moves. Our current pull back 8/17 is reacting 2 fib levels lower then the mid bull pullback period of 2017.
4. What we can conclude is that the price should be expected to hit $8,000 in mid to late December at the 1.68 fib level and top out at $9,000 this would be in line with being (2) two fib levels down from the returns in 2017. If we can get to just one fib level under then we can reach $12,300 fib price level in Early January. If we could touch the same level as the last bull run that would place ethereum at $16,000 max bull market but would violate the evidence we have seen so far for diminished returns. ( reduced price by 1 to 2 fib levels ) My target for end of the bull run is $9,000 to max $12,300 with the most likely being the $8,000 to $9,000 range to take profit in 25 Dec. If we get a January rally like last bull market then that could drive the price over $9,000 to hit $12,300 fib level which is 1 fib lower than 2017 bull market top. See chart for images. #ethereum
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.