I'm quite new to technical analysis, so please consider this more a try than some sign to invest big money. But I want to start a discussion: There are quite some people starting to treat ETH bearish now, but to me there are quite some indicators that it could turn again in the fibonacci 50-61.8% area, where there are also the trend line (as well as the old trend channel) and a support zone frome some days ago (which you can identify better in the 1H chart than the shown 4H).
Komentarz
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Well, that turned out bad. Seems like ETH got dragged with that drop of bitcoin... Next would be interesting to look at the fibo retracements of the long wave from point 2 to 3. (can not do this right now, cause I'm on my mobiles browser...)
Or is the ETH-USD chart still the wrong one to analyze ethereum and we have to look at the EtH-BTC instead, because it is still coupled too strongly?
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youngelderberry
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Meh, its still coupled strongly but ETH did hit support at 265. While still maintaining trend
Vollchaot
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@youngelderberry, Yes,I guess you're right. So lets get back up again. Thanks for the comment...
youngelderberry
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@Vollchaot, back up if we see a solid v retrace like we saw in May, or back in early 2016. If not, probably a volatile few months between 200-350