ETH (Prj.2019.P02.E03).Next Micro level target and movement
> Using fib.fan and fib.circle, I'm looking at ETH pulling slightly back before another key move to the upside.
> No words as the chart says it all and please don't take the lines literally (in red), its just an indication as to the rhythm of the price movement.
> Looking to restrace to the 0.5 fib level, $248 (previous post)
> Just note the key levels for support and resistance.
> All keep an eye out for the 21 EMA on the WEEKLY chart, must be on our radar. Currently the price is above it however we have 3 days to go.
Note my comments on the previous post for which turned out to be good advice (closing phase).
**************************
Comment: With BTC close to imminent drop (temporarily) short term, and the fact that ETH is just short of the main target (already very close or acceptable its done so), I would say that it is more likely a good selling point for ETH (I have). We must work with the BTC reality. Once the drop has happened, it will be a great opportunity to jump back in for ETH for larger\bigger gains. Question is what level will it drop to? If you were awake, great, but if if not, what reserve price is good. That is a difficult one to say, but I'm working on it. What ever it is, it should equate to BTC support level, hence equaling a similar % drop as a good guide.
BTC chart below has the key support levels, in red.
***********************
WEEKLY Chart with 21 EMA and 50 EMA
Previous ETH MACRO post: Looking to restrace to the 0.5 fib level, $248
> No words as the chart says it all and please don't take the lines literally (in red), its just an indication as to the rhythm of the price movement.
> Looking to restrace to the 0.5 fib level, $248 (previous post)
> Just note the key levels for support and resistance.
> All keep an eye out for the 21 EMA on the WEEKLY chart, must be on our radar. Currently the price is above it however we have 3 days to go.
Note my comments on the previous post for which turned out to be good advice (closing phase).
**************************
Comment: With BTC close to imminent drop (temporarily) short term, and the fact that ETH is just short of the main target (already very close or acceptable its done so), I would say that it is more likely a good selling point for ETH (I have). We must work with the BTC reality. Once the drop has happened, it will be a great opportunity to jump back in for ETH for larger\bigger gains. Question is what level will it drop to? If you were awake, great, but if if not, what reserve price is good. That is a difficult one to say, but I'm working on it. What ever it is, it should equate to BTC support level, hence equaling a similar % drop as a good guide.
BTC chart below has the key support levels, in red.
***********************
WEEKLY Chart with 21 EMA and 50 EMA
Previous ETH MACRO post: Looking to restrace to the 0.5 fib level, $248
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Daily chart