ETH longer term bullish view
I think ETHUSDT is looking very good.
Based on the charts it looks like ETH has made a full ABC correction and we assume that it is completing it's first higher low sinds the correction of january.
If this support holds on the 0.618 fibbonaci level, wich is the golden pocket, this is a POSSIBLE outcome for ETH on the long term based on the Elliot wave theory and Fibonnaci numbers.
Looking at the other indicators we don't see a bullish divergence yet, and it looks like the price could drop a little lower, going to the mentioned 0.618 Fibonnaci level in the green box.
We can look for an entry in the green box and put a stop loss around 520.
If this plays view plays out, you're looking at a very nice gain%!
Happy trading,
NL CRYPTO
Based on the charts it looks like ETH has made a full ABC correction and we assume that it is completing it's first higher low sinds the correction of january.
If this support holds on the 0.618 fibbonaci level, wich is the golden pocket, this is a POSSIBLE outcome for ETH on the long term based on the Elliot wave theory and Fibonnaci numbers.
Looking at the other indicators we don't see a bullish divergence yet, and it looks like the price could drop a little lower, going to the mentioned 0.618 Fibonnaci level in the green box.
We can look for an entry in the green box and put a stop loss around 520.
If this plays view plays out, you're looking at a very nice gain%!
Happy trading,
NL CRYPTO
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