road to $5k

10 thg 5, 2021

continuing to look at margin buying pressure to project resistance zones. looks like we may see some resistance around $4700 and again at $5200.

if $5200 intersects with the 1.618 extension of the channel, i'm thinking that's where it may retrace a bit and consolidate.

13 thg 5, 2021

Ghi chú

i think the latest local low ($3500) is further validation of the $5200 target. if 3x margin traders are using it as support, they're not buying above $5200.

14 thg 5, 2021

Ghi chú

understandably a lot of resistance at the long term trendline. still looking good to me. if price finds support around that 4K level now i think it will be ready to go.

17 thg 5, 2021

Ghi chú

gotta love this fickle market. in a descending channel now. all eyes on BTC to see if it can hold the 42K support. if it holds, i'm guessing ETH will bounce back too. if not, i'll be watching for ETH to bounce off the 2.9k-3k zone.