Etherium Buy markers and trend slope adjustment evidence
Actualizado
As with my bitcoin, I am doing this for my own buying indicators. Unlike bitcoin, Etherium has wider swings and is overall less predictable. Patterning is less reliable and this is my first attempt. From what I can tell, Etherium is in free fall and before I completed this chart, I had to adjust some lines and move my reverse Fibonacci Wedge to actually capture a convergence point. If the trend is followed, Etherium looks to have no definitive support point. Because I am cautious, I will watch and see how this plays out, and not look to buy at the moment. ETH seems to swing 30% to BTC's 10%, at least in the short term. There has been quite a bit of selling off and very little buy back. As I am only looking to find patterns and trends, and not correlate it to news items or rumor, as well as only drawing on one source for the chart, accuracy may elude my prediction. That being said, $525 ETH seems like a bargain.
Nota
Ethereum needs a parachute. And yeah, I guess I misspelled it...Nota
Broke out of the expected short term channel. Redrew a longer view and convergence. Disregard this chart and see current chart.
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