The argument for more upside to the original targets fits better for Ethereum than Bitcoin. Similar to Bitcoin, price and momentum managed to stabilize before a breakdown. The minimum requirement at the .618 has been reached, however if we continue up I will be looking at the .786 or the 1:1 as targets. Ethereum has much more room before invalidation since it cannot break below $345. However, if Bitcoin loses $10,600, the likelihood of Ethereum continuing up independently is unlikely.
Commento:
Commento:
Ethereum is trading back at the larger .618 again and is currently rejecting at the 1.236 extension from the most recent pivot. We have not gotten confirmation, but it is entirely possible to roll over here.
