ETHUSD Potential Pattern Formation

Feb 22, 2018

Based upon the movement of the markets a lot can happen. But based upon previous historical moves we see that there was a test & bounce off of the 38.2% Fibonacci. After that move we saw price fall down and almost testing the 61.8% Fibonacci. Now lets talk about this pattern. The first criteria has been met which is the XA leg Fibonacci extension of 1.272% has been hit. Second as discussed price visited the 38.2% Fib of the XA leg. which means it is now a waiting game for Ether to reach the 78.6% Fibonacci of the XC leg. Which is a lot of ground to cover so be watchful as price can be volatile.

Thanks for reading this quick chart analysis.
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