ETH - CONSOLIDATE BEFORE PUMP? OR NO?
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Hey guys. This is just a look at ETH on the daily chart. ETH definitely has the juice for some powerful blasts but I think we MAY consolidate first for just a bit.
I'm definitely not as confident in this idea compared to some others as most of the indicators really don't help as they are all stuck in the middle "decision zone".
THERE IS the possibility that it pumps up to just about 5K and THEN consolidates between the 4.5K-5K area instead. With more time, I imagine the data and indicators will be more clear and we'll have a better idea of what's going on.
I'm DEFINITELY BULLISH on ETH for the rest of this market cycle which I think could carry on into next year. I think all of the "end of the year" forecasts will be irrelevant because I believe market cycles are lengthening! Over time I think that more people will agree with that opinion.
The consolidation pattern is based off of fractals and previous bar-patterns.
I haven't made a chart for ETH since the previous ETH Inverse H&S pattern target of $4500 Which played out EXCELLENT! (link below)
So here is a new chart and as always I will make necessary updates so make sure to set alerts to notify you of updates.
If you like this idea please LIKE, FOLLOW, SHARE. It's all appreciated. Thanks for everything. I welcome all feedback and comments (unless they're UNNECESSARY AND NEGATIVE, that's not what I'm here for)
*** As always, This is NOT FINANCIAL ADVICE, This is just an idea based off of my research and experience studying and trading cryptocurrency. I ALWAYS RECOMMEND doing your own research before investing in anything. ***
I'm definitely not as confident in this idea compared to some others as most of the indicators really don't help as they are all stuck in the middle "decision zone".
THERE IS the possibility that it pumps up to just about 5K and THEN consolidates between the 4.5K-5K area instead. With more time, I imagine the data and indicators will be more clear and we'll have a better idea of what's going on.
I'm DEFINITELY BULLISH on ETH for the rest of this market cycle which I think could carry on into next year. I think all of the "end of the year" forecasts will be irrelevant because I believe market cycles are lengthening! Over time I think that more people will agree with that opinion.
The consolidation pattern is based off of fractals and previous bar-patterns.
I haven't made a chart for ETH since the previous ETH Inverse H&S pattern target of $4500 Which played out EXCELLENT! (link below)
So here is a new chart and as always I will make necessary updates so make sure to set alerts to notify you of updates.
If you like this idea please LIKE, FOLLOW, SHARE. It's all appreciated. Thanks for everything. I welcome all feedback and comments (unless they're UNNECESSARY AND NEGATIVE, that's not what I'm here for)
*** As always, This is NOT FINANCIAL ADVICE, This is just an idea based off of my research and experience studying and trading cryptocurrency. I ALWAYS RECOMMEND doing your own research before investing in anything. ***
Note
Well as of right now ETH is looking like "consolidation" is out of the question! It is looking very strong. It likely will create a CME gap which could be filled by a pullback and strong bounce, OR it just won't be filled (it happens). Worst case scenario is it fills and falls through but that's not looking likely right now. Eth looks ready to pump.
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