Now ETH is going for 1,010.00/1,023.37 $ zone, but to complete de ZIG ZAG pattern it should fall at least at 770.00$ but the real target would be 610.00$
When I see top/bottom it is because the algorithm is telling me that, it is only numbers, no subjectivity involved. But its projections are only math probabilities, the opposite scenario is also and always possible.
In the case of cryptocurrencies, changes in the block chain can create gaps on the charts as the FED intervention does in US bonds, or OPEP announcement in crude oil futures, etc.
The bottom line for me is to keep the losses low and the profit higher, nothing else matters.
jmmcinvale
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ETH will clearly follow BTC down. Perhaps bounce off support at about 825. Could go lower as far as 650.
tradeup13
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I believe ETH falls deep only if Bitcoin falls. Otherwise, it only increases or consolidates. So my theory is that if we ever get to see ETH once again at the range of 770-610, it will be because of Bitcoin falling under 9k and more, or some bad news, no?
dimiboga
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@tradeup13, i believe 770 it will be too low, i saw many people predicting something like this put if we don't have any really bad news i don't believe that it will happen any time soon. My opinion is it will balance at 1050 and also we expect new people entering the marker with robinhood app so this will boost the volume and therefor have a positive impact into the price.