The waves of funds continue to rotate from one coin to another.
First BTC shot to almost 8000 USD over the last weeks,then crashed
funds flowed into BCH, which rose 300% in a few days,
next, altcoins like DASH saw inflows and 50%+ climbs
ETH STILL SIMMERING:
But ETH sill hasn't seen it's break out moment. In fact, this consolidation range between two converging (an pattern) has lasted from June. But the are converging and price is coiling like a spring and we should see a resolution of this range one way or the other, and I am FIRMLY on the outcome. We have an uptrending 200 day moving average and overall . The is also looking to push into a range (above 50). Based on the weight of the evidence, I think we will see a very significant, large and rapid breakout out of this consolidation range.
First target is the old highs at 400
Second target is the 161.8 of this entire consolidation at 565. That would be a 50 - 75% increase from present levels.
Long over a breakout of this short term consolidation range above 330
Stop below the short term consolidation range at 270.
Target: old highs 400 (take off 1/3 position)
Target 2: 161.8 Fib retracement 565 (take off rest of position)
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I timed it perfectly with a confirmation after the break. Now to just time it at the other end, by starting with some profit at 400.
There's a lot of reasons why it might break up. Hundreds of thousands of new users on Coinbase, market cap of cryptocurrencies adding billions and billions...