Could ether be holding/consolidation to play out this Long?
The Fibonacci Retracements are from the 2018 dump in July, 2018.
After capturing the 38% retracements Support, it consolidated for a while, and then sprung to above 300 euros. However, that was also aided by the BTC parabola. Now, it is consolidating just below the 50% retracement after the dump the past Wednesday. Extracting the bullish fractal from the 38% retracement and inserting them on the now below 50% consolidation, the similarity in fractal suggests a move unto 330 euros. I would not be surprised that ether does reach that value, and especially if BTC starts to range in the 8000-12000 (tradingview.com/chart/XBTEUR/hF3XjqUL-Ready-to-go-to-the-Moon-or-bust/) euros range for a while.
With the R:R: 6.24, this trade makes it worth taking
Stop/Loss: 225 euros
Target: 300 euros
Nota
Stopped out at 225 euros. Looks like the market is really dumping now.
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