ETHERIIUM - ABC Consolidation? 65% move coming?!
Etherium just did a -61% correction to the fib 0.618 zone and bounced up 60%! Here, in the 6H, it met resistance at the lower 55EMA threshold (blue line), signaling that it will NOT make a move to break the ATH (4.3k), before making a lower-low first.
Therefore, ETH may be in an ABC consolidation.
Look for possible support ~2.1K. A bounce here could go as high as 3.5K (65% move). Resistance here makes sense - this is the upper 55EMA threshold (blue line).
From here, a possible drop of -68% - consolidating to 1.35k. This happens to be fib 0.786 and AND old resistance line from Jan 2018!
Wherever this bottom falls, it will be the cheapest ETH will ever be. It only goes UP from here folks!
Note: This is just an opinion. Good luck in your trades!
Therefore, ETH may be in an ABC consolidation.
Look for possible support ~2.1K. A bounce here could go as high as 3.5K (65% move). Resistance here makes sense - this is the upper 55EMA threshold (blue line).
From here, a possible drop of -68% - consolidating to 1.35k. This happens to be fib 0.786 and AND old resistance line from Jan 2018!
Wherever this bottom falls, it will be the cheapest ETH will ever be. It only goes UP from here folks!
Note: This is just an opinion. Good luck in your trades!
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