I'm just learning TA, so I post these more to see how my ideas play out than inform anybody else's thinking. Please tell me if this sounds like a load of misinformed BS.
Looking for the next leg up to land in the €560-€570 range.
It all seems to currently be coming back to that magic number of 1.618 - the One line of this fib retrace is drawn from the support...
ETH is currently hovering between 650 / 700 Euro as BTC struggles to break past $9000, possibly due to low volume and worry about a deeper dip. I feel that there will be a further climb before a final dip down to a new low (or at least re-test the low on the 6th Feb). From this low point it seems to me that the price will align with the pre-boom growth rate before...
Not good for Cripto-traders today, I agree that the broken supports of today will take long time (aka 6 months ) before recovering bull impulse again.
Pluse that black ravens of the news are eating day by day the confidence of the bulls in trade.
Good luck to everyone :)