ETH closed today with a bullish candle, elevating the odds of going to ATH in the nearest future. This possibility was discussed yesterday in the long term forecast, that can be viewed by everyone here:
This daily overview contains:
– daily and weekly candle charts – analysis of candles and technical events;
– weekly EW chart and an updated long term forecast;
– short term EW chart and targets.
Today’s candle was bullish. Despite the red color, it did not close low enough to switch the odds bearish. Multiple indicators support a continued move upwards, possibly after a few days of pause.
If ETH is seriously bullish, it would need to close the week above $4146. Two days to go.
The long term forecast was discussed in details yesterday. No change since.
The short term projection has not changed either – I just added a few graphical elements.
The main hypothesis is that ETH is working on an Ending Diagonal for wave V, targeting $4900-5200 area.
ETH is expected to continue its move upwards with a good chance to confirm the reversal/rally on the weekly frame on Sunday.
Possible mid-term targets: $4900-5200.
Mark this post and follow @InvestingAngles – $ETH path will be regularly updated.
$SPX, DJIA, NDX – Road Maps:
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DXY Weekly Analysis:
NatGas Long Term Forecast: