We will continue going higher AFTER a brief dip. Still looking at approximately $400 for the high as we approach the Bitcoin Block Halving. This "Idea" is labeled "Long" for a "Long Term Analysis." Do NOT assume I'm saying to go "Long" this very moment. We are likely to have a dip soon before we continue going higher. The price range we possibly dip down to is shown on the chart.
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The following Idea was posted December 20, 2019 to give an idea of WHERE we are going and WHEN we may get there. Click "Play"
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My way of determining the next high with a FIB Extension is unorthodox but effective.
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Made adjustments on the Vertical Time Lines which changed the DATE in which highs and lows are expected to meet in this 3-Day TF:
BOTTOM LINE: We could continue sideways at current GREEN 50% FIB level before a brief dip once the White Energy hits the 50% level in the 3-Day -OR- we could see a PAUSE in the 12h at current Green 50% FIB level before continuing upward to the BLUE 78.6% FIB Level. This implies the White Energy in the 12h would BARELY fall below the 50% level for a short brief amount of time and quickly turn back up above the 50% level BECAUSE of how much room the White Energy has to come down in the 3-Day TF. This in turn would allow more time for the price action to push upward to the Blue 78.6% FIB Level.
Popovich
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@WyckoffMode, BTC and ETH seems to be on slightly different timeframe. I am not sure they are going to move in sync so to speak the coming days. The TFs on BTC either are still ongoing or have turned up, foretelling plenty of room for upward movement. But ETH's 2D has almost dropped to 50 level, 12H coming down through 50 level now. Its pump for the last few days has been a straight line to say the least. I have exited in the 170s, the drop didn't reach my fill and it never looked back since. One of my many rueful experiences of inappropriate stops and fills.
But an entry at the top of a parabole seems perilous.
Popovich
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@WyckoffMode, if you don't mind me asking, 1) Is it necesary to watch both ETHUSD and ETHBTC while trading ETH?
2) Is it reasonable to think that if BTC is going up/down, ETH has to go up/down too regardless of the indicators, so to speak? Because the way it looks on lower TF, BTC appears to be pumping here but ETH appears to have to retrace, maybe to lower 0.618 fib $215.
Yes, it can be beneficial to also look at ETHBTC to get an idea what the Composite Group(s) may be up to. They could have the intent of accumulating more BTC by dumping some ETH for BTC. That can easily be done if BTCUSD went up 10% and ETHUSD remained the same (0.0%); which would mean ETHBTC drops 10% because they potentially accumulate more BTC by dropping ALT/BTC pairs for BTC.
You're welcome... I made my possible "pull-back" scenarios rather shallow depending on how high we go for a reason. I want people to have a decent chance of getting in if they missed out or not get too greedy on a pull-back margin bet with leverage. The other reason I made my estimates of the pull back so shallow is because of what I've been seeing in the 4-Day, 5-Day, 6-Day and Weekly. It's looking like ETHUSD will go up HARD between now and mid April, 2020. However, it will ONLY look like it went up HARD if you look at higher time frames; such as the 4-Day, 5-Day, 6-Day and Weekly.