ETHUSD fractal idea

May 18, 2018

Self explanatory.

Old trend-line parallels with current one. Fractal matches. Old bottom was found at 1.272 of old peak and 2nd bottom.



Same fractals seem to be at play with the current situation. Recet ATH + 2nd leg down gives us at fibo 1.272 a price target of 583 in case the fractal plays out.

Idea invalidated if we break out of the upper parallel line.

May 18, 2018

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If same fractal repeats itself once more it would form a lot of pressure which would likely break upwards in "the cryptoworld's far far futrure"

May 18, 2018

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May 19, 2018

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May 19, 2018

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May 19, 2018

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Do not FOMO.

May 19, 2018

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Closeup on current situation

May 22, 2018

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Still holding to my idea.

Here some eye cancer. Target @ 618 (probably) in 5 days.

May 22, 2018

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If 618 is met within 5 days and holds, a bullish butterfly is formed and new target is in 750's => Long.

May 23, 2018

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Good Morning.

622 was touched las night, very close to 618.

We could see an action like this:


Or -> We could go to 583 and touch the 1½ years old trend line.

May 23, 2018

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Could also be dead cat bounce. Observe the situation before doing any trades.

May 24, 2018

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Yup. Was a deadcat bounce.

Target was hit and now I expect some recovery to 620-650 area.

May 24, 2018

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Above idea invalidated. We will be following papa BTC down the road.

May 30, 2018

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CLOSING


Fractal went pretty much as far as it was drawn. Price dropped after fractal had ended and bounced from 500 as for now. Closing this idea as I will not update it anymore.