ETHUSD hit targets: Ethereum retrace watch for rentry zones

ETH hit my targets for last long entries and even went to the ''bonus'' area.

Now it looks like a correction is starting.
If so, it should decline pretty soon here.
Of course, it is very bullish right now and may just keep going up until the Constantinople fork.
New higher high would invalidate this plan.


Background:

My ETH journey started a Fib observation from the bottom

Once that played out, I was looking for the retrace zones to enter long again

Above zones played out and as bounce progressed I saw 152 and 156 as possible targets

Now it looks to have topped for now, so am watching the retrace again with the current plan above

Komentar:

Retrace on track thus far

that first support zone still looks plausible, waiting to see what happens at the 2.382
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the 2.382 mentioned above broke, next up the 3.382

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That 2.382 has now confirmed it's relevance, and thus added to the relevance of the this blue fib series

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ETH bounced out of nowhere

not sure what to make of it, other than suspicion of the bounce being a bottom. But watching closely, it did come very close to the support zone.

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Komentar:

ETH at 146 still looking good for possible buy in

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ETH still on the road map alreay plotted.

come on bears, keep it up!

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Here we GO, time to watch VERY closely

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Nice!

good bounce near top of support zone, filled some limit buys. But still expecting test of the lower boundary

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Here we are, at an important fib. the 3.382 under attack

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ETH nice! an EXACT bounce from the fib zone expected

lets see if it holds ....

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1min plost lol, but that confirmation of the 1.618 is a great sign

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Decent bounce off top of zone after bounce from bottom of same zone

Bull need to reach that blue 2.618 quickly to confirm strength
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ETH following the the fib / ew plan nicely, but 150 will be key/big resistance , with a test coming at the blue 2.618

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Blue fib proven valid again by the resistance at the 2.618

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Nice! 2.618 broken with strength. 150 seems very very likely

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Here comes the retest of the 2.618. I am hoping not just for a hold but a strong bonce off it

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I am falling asleep in chair, so this is my last update for a few hours: bulls need to break 156.88, to attack the next resistance zones in red

I think 177 is very plausible in next day or so... will be back as soon as I can with more...
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Komentar:

Bounce was cut short by Bitcoin dumping. Here is what we have as continuation of pics above

looks like $150 round was too much resistance, did not reach the anticipated 4.236

To evaluate this move, this Fib series locked in right away

so we have this ''Frequency'' in the smallest tf but also the latest tf.

Zooming back out a bit and EUREKA

the 7.618 of this micro fib snaps onto previous fib zone PERFECTLY,.

BUT zooming out a bit more, and with the green fib of move up

looks like that one still has significant influence. So it is possible that the green 2.383 (a common retrace of a 4.236 wave) along with the blue 6.618 noted in above pic, MAY have been the bounce point. But needless to say if price visits the 143 zone, it is again a buy.

Overall, the significant bounce above the second defense zone is a good sign. Will update further after I fully wake up :)

Komentar:

Looks like bulls have retaken the original first support zone. And even the retest looks good. Am watching closely here

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Closeup inspection shows a clear Impulse wave that ended at the 4.236, after confirming each key level

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After evaluating the above charts, I am seriously worried about another leg down to sub 140, per this plot