First Target in ETH/BTC Hit Exactly…

Overnight ETH hit .03150 BTC which is exactly the lower end of my first target range.  (see prior post).

BUT ETH is not close to my first target in USD (17.25 – high so far on this move is 14.00 USD).

I think the move over the last three days certainly qualifies as the explosive move I have been calling for, and it went right up to my projected target, too.    It’s worth noting that it reversed pretty hard when it hit that target,  which of course raises the probability that this current up move is over.

Specifically, the current pattern says:

If ETH stays above .027-028 ($12.50-75) today, then there’s a good chance we can see the USD target on this move.  Otherwise, the chances increase that ETH will go back to .02635 or even .02265 range which would be a “line in the sand” for the probabilities to favor more upside on this move.

During a powerful up move like this, every meaningful drop can effect the probabilities of where price is headed, no matter how strong an up pattern was up till that point.

In other words, you can never be certain of anything, so I’ll be watching the next 1-3 days carefully and be very willing to alter my targets based on what the patterns tell me.

ALSO

BTC price range has been very small over the last 2 weeks.  Patterns are shaping up for a big move here.  The probabilities are still to the downside, and the target remains in the $385 USD range.

 

 

 

 

 

 

 

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Getting Explosive

Within an hour of my post yesterday ETH took off, the beginning of the explosive move I described?  Probably, but what happens today is the confirmation I’m looking for.

Sometimes the patterns do show high probabilities of big moves down to the day.  I had no idea there would be a big move up in ETH yesterday, I just knew the patterns said it would be coming SOON.

Today is a different story. Today has a high probability of a strong up day and so far it’s looking like it.  If not, the next window for explosive upside would be in the thursday/friday range.

Targets remain the same, however, I need to note that the .0315-.03250 BTC target was estimated when BTC was trading around $455 USD.  If BTC decides it’s time to move down towards $400 that would change the target for ETH priced in BTC.

I’ll add an initial price target for ETH of $17.25 USD with a solid chance at 22-23 range in the not too distant future.

This shit can get confusing when you’re dealing in multiple currencies, but what’s not confusing is the patterns currently showing more upside for ETH.

They have to make you regret it

While I wait for pattern targets to get hit, or until a new pattern emerges, there’s little to say-but I’ll add a thought or two when I think it’s worth it.

ETH has already had a huge run up during 2016, and is currently getting lots of hype with the DAO funding, so it’s intuitively hard to imaging another big move up while everyone is supposedly buying away.

However, the patterns suggest that price hasn’t gone high enough yet to make people who did not get on the ETH bus regret missing the opportunity.  Per the patterns, there’s a strong probability of an explosive move soon that gives the feeling it’s going up too much, too fast.  Nothing is guaranteed of course–probabilities, never certainties….

This has already happened recently for ETH and that decreases the probability it will happen again so soon, but the patterns say probabilities are still high.  Also,  I’m not hearing enough talk about “waiting for a pullback” to buy ETH (there’s some, but not enough) to believe we’re at the top of any significant price range.