ETH hits my target – what now?

Monday June 13, 2016  7:30 PM

As noted a couple of posts ago was a moderate probability, ETH shot right up into my target range, currently trading around 17.70.

I sold 10% of my remaining position (so I now am holding 40% of core position) for a gain of over 70% after holding just over a month.

The volume and price on both ETH and BTC continue to look very bullish but some indicators are showing a pullback becoming more probable.

I won’t reduce my position further until closer to $20 which I now expect on this move before a meaningful puillback.  However, I wouldn’t count on anything at this point–there’s really no edge for a big move up or down at this point.

With that said, the behavior of ETH continues to show signs of longer term upside with higher targets starting to come into focus.  The issue as always is what path price will take to get there–for that we wait for patterns to guide us.

 

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