Possible further ETH dip after bounce - $1200 in mid-late March?
- In the previous bull run, ETH had two corrections that (1) bounced off of the daily EMA ribbon and then (2) further dipped to the 200-day EMA. See Link to "Historical ETH correction patterns".
- The price ranges from the top were 66% and 50% for July and September 2017, respectively.
- So the historical pattern is: (A) dip below daily EMA ribbon, (B) bounce, and then (C) further correction to the 200 daily EMA .
- So far, we have never dipped below the daily EMA ribbon during this bull run.
- Today, we dipped below the daily EMA ribbon. The 200 daily EMA is still far below us.
- If we see a similar pattern as before, we might see a slight bounce and then another correction to the 200 daily EMA , which may be around 1200 USD level when we get there in mid-late March.
- The price ranges from the top were 66% and 50% for July and September 2017, respectively.
- So the historical pattern is: (A) dip below daily EMA ribbon, (B) bounce, and then (C) further correction to the 200 daily EMA .
- So far, we have never dipped below the daily EMA ribbon during this bull run.
- Today, we dipped below the daily EMA ribbon. The 200 daily EMA is still far below us.
- If we see a similar pattern as before, we might see a slight bounce and then another correction to the 200 daily EMA , which may be around 1200 USD level when we get there in mid-late March.
