CountOnCrypto - Ethereum Forecast - 26/01/2021

As I have stated many times in previous analysis, I am bullish on Ethereum.

I have adjusted my Fibonacci levels to attune to the previous high we recently made, we've been trading sideways-downward in the channel I have drawn.
Using the Fibonacci .5 as a Support level and the bottom of the channel I believe Ethereum will now bounce up to the .786 level and test the upper side of the channel. If we break out there my next target will be the top of the long term channel I have been analysing in the attached ideas below!

So my plan is to simply ride this long, it would be invalidated if we broke below in which case I would close my position partially and average down using my Fibonacci levels as potential entries.
I will also update this idea if I make changes! Please remember to use risk management when trading, my Ethereum ideas are based on education and are not financial advice, you should do your own research before entering the market.




Thanks for following, liking and commenting; I hope to reply to more of your comments below.

Comment:

Taken Profit around 1350

Trade closed manually:

Profit taken!