Currently ETHUSD is in an AB extension to the D target of $466.33USD.
Looking at the sub AB retracement (a=$136.12 and b = $258USD) it has made a 0.618 retracement to $182.68USD. It broke the counter trend line on Aug 08 to begin its extension to the capital D $466.33, however its about to hit its sub d target at $332.32USD. At this point expect a pull back as profits are taken where ETH should fall back to support at approx. $236USD which will be a good entry point for those wanting to go long.
I will provide an update over the next day to explain the next sub ab retracement.
Looking at the sub AB retracement (a=$136.12 and b = $258USD) it has made a 0.618 retracement to $182.68USD. It broke the counter trend line on Aug 08 to begin its extension to the capital D $466.33, however its about to hit its sub d target at $332.32USD. At this point expect a pull back as profits are taken where ETH should fall back to support at approx. $236USD which will be a good entry point for those wanting to go long.
I will provide an update over the next day to explain the next sub ab retracement.