Ethereum to $365 early March if we maintain our current ascending channel (6 weeks strong). Both of the previous bull runs maintained their channel until they reversed to complete their wave.
The first ETH run end of 2017 went from $300 to its ATH of $1400 over the period of 3 months in 3 distinct runs (That’s an average of almost $100 a week!)
The second run started December 2018 and ran from $84 to $365 over the period of 6.5 months in 5 distinct runs
The third run started around 3.Jan.2020 and has currently ran from $125 to $284 over the period of 6 weeks in 2-3 runs.
This current channel is tighter than even the explosive channel that led us to $1400 in 3 months in 2017. This channel if maintained will go high, fast. Here I am seeing the real possibility of $365 in around 3 weeks, early March. Already I called for $750 April.2020 to return to a channel it established starting late 2018. Looking at that channel and our trajectory, we can expect for this aggressive run to start to take on a more reasonable and maintainable trajectory once it is in the channel somewhere between $850 & our ATH. I don’t know for sure it will return to this channel but it seems probable and I always find it amazing how even a year later, a channel can resume at completely different price points, maintaining diagonal support/resistance.
So far there is no reason to believe it will break this channel, however, if it does, we should anticipate the potential to return to the multi-year trend line around $175-$200 depending on timing. In this case, touching the multi-year ascending trend line is a strong buy signal but be aware, a meaningful break below this trend indicates the end of ETH's multi-year bull run and is extremely bearish.
I am bullish, I believe 2020 holds a lot of potential for crypto.
I have long holdings and day trade ETH, this market makes it incredibly easy to profit. If you are new to trading, only trade what you can afford to lose, think of it like you are going to the casino and don’t bring more than that. If you do well, how ever much you bring will be enough. If you don’t do well, be glad you didn’t bring more.
This is not investment advice, I am sharing observations I have made with my own research. You should always DYOR, don’t rely on any one person or signal.
Also as usual, plug for our site, vcdepth.io I use the global orderbooks or an assets global order books to assess when a knife is likely done falling or a rocket is out of gas. I use it for signals of large orders that hit the books, I look for changes in the Market Depth Ratio, many times the books signal before volume and price and also provides another signal to look for divergence from price and volume action.
The first ETH run end of 2017 went from $300 to its ATH of $1400 over the period of 3 months in 3 distinct runs (That’s an average of almost $100 a week!)
The second run started December 2018 and ran from $84 to $365 over the period of 6.5 months in 5 distinct runs
The third run started around 3.Jan.2020 and has currently ran from $125 to $284 over the period of 6 weeks in 2-3 runs.
This current channel is tighter than even the explosive channel that led us to $1400 in 3 months in 2017. This channel if maintained will go high, fast. Here I am seeing the real possibility of $365 in around 3 weeks, early March. Already I called for $750 April.2020 to return to a channel it established starting late 2018. Looking at that channel and our trajectory, we can expect for this aggressive run to start to take on a more reasonable and maintainable trajectory once it is in the channel somewhere between $850 & our ATH. I don’t know for sure it will return to this channel but it seems probable and I always find it amazing how even a year later, a channel can resume at completely different price points, maintaining diagonal support/resistance.
So far there is no reason to believe it will break this channel, however, if it does, we should anticipate the potential to return to the multi-year trend line around $175-$200 depending on timing. In this case, touching the multi-year ascending trend line is a strong buy signal but be aware, a meaningful break below this trend indicates the end of ETH's multi-year bull run and is extremely bearish.
I am bullish, I believe 2020 holds a lot of potential for crypto.
I have long holdings and day trade ETH, this market makes it incredibly easy to profit. If you are new to trading, only trade what you can afford to lose, think of it like you are going to the casino and don’t bring more than that. If you do well, how ever much you bring will be enough. If you don’t do well, be glad you didn’t bring more.
This is not investment advice, I am sharing observations I have made with my own research. You should always DYOR, don’t rely on any one person or signal.
Also as usual, plug for our site, vcdepth.io I use the global orderbooks or an assets global order books to assess when a knife is likely done falling or a rocket is out of gas. I use it for signals of large orders that hit the books, I look for changes in the Market Depth Ratio, many times the books signal before volume and price and also provides another signal to look for divergence from price and volume action.