I came upon this price-action of summer 2017 by chance today. Basically, ETH had gotten ahead of itself in a big way, reached $400 and then EOS started their crowdsale and started dumping ETH like mad. ETH fought the good fight for a couple months but pretty much had itself a mini-bear market correction which ended with price reaching stupid-low prices before sanity returned and price + volume came back into ETH.
Well lo and behold we've got a similar situation but on a much longer timeframe. Coincidentally, price is again at the same levels and finding last-ditch support with volume at the same levels.
I'm not holding this fractal to any strict parallels but for this fractal to come true price shouldn't dump (much) more here...but if it does it needs to dump now and then recover in a huge way on huge volume, very quickly.
And if price does hold it needs to get above $150 first and foremost and then stair-step upwards on large volume and most importantly keep the low intact. If selling volume returns it to lower-lows after it gets any kind of rally to $150 going that's the ballgame on this fractal, and possibly on triple-digit prices for awhile.
But if all goes according to this fractal then we could be seeing $260-$280 prices within 30 days or so.
Well lo and behold we've got a similar situation but on a much longer timeframe. Coincidentally, price is again at the same levels and finding last-ditch support with volume at the same levels.
I'm not holding this fractal to any strict parallels but for this fractal to come true price shouldn't dump (much) more here...but if it does it needs to dump now and then recover in a huge way on huge volume, very quickly.
And if price does hold it needs to get above $150 first and foremost and then stair-step upwards on large volume and most importantly keep the low intact. If selling volume returns it to lower-lows after it gets any kind of rally to $150 going that's the ballgame on this fractal, and possibly on triple-digit prices for awhile.
But if all goes according to this fractal then we could be seeing $260-$280 prices within 30 days or so.
코멘트:
OOOFFFF! $75 is the ball-game. Below that and this fractal might officially go down as busted...but below that and it's like well then, now what?
Who knows.
Who knows.
코멘트:
Welp, we broke out briefly after that last update... Only to stumble around and trip back down here now to $101'ish.
Do it die time again for this fractal. Lower-lows don't appear to be in the cards and in fact this looks like it *should* be the bottom before one hell of a rally.
We'll see...
Do it die time again for this fractal. Lower-lows don't appear to be in the cards and in fact this looks like it *should* be the bottom before one hell of a rally.
We'll see...
Time will tell now. $98 good support. Break that and all bets off.