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Ethereum’s run is not over yet

Posted on .

Ethereum’s run is not over yet

Introduction

Ethereum

Ethereum has been on a tear for several days now.  As regular readers know, I had a target of $60-62.  That target was reached a few days earlier than I expected, and I fully intended to focus my attention elsewhere after exiting at $60.  But the advance has not stopped yet. Pricetime is giving every indication that it will push through the 5th arc:

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Pushing through the 5Th arc is obviously a signal that the run is not over.  There are a couple of possibilities. One of them is that the run will push toward the top of the 5th square.  So, lets take another look at the setup above to see where the top of the 5th square is:

As you can see, the 4th square tops out at ~ $75, and the 5th square tops out at ~ $105.  Interestingly, note that there is an energy date (pink vertical line) almost exactly at the end of the 5th square in time.  My guess is that that date ~ May 4th, will mark a top.  But where?  $75, or $100?

There is another way to look at this.  Perhaps my setup is simply too small.   Let’s re-size the setup to the next logical place, and see what that chart suggests/shows:

I think it goes without saying that I do not know for certain which of these setups is “best”, though my preference is to rely on the smaller setup. However, even this larger setup, in a truly remarkable and fractal way, shows resistance at the same place in pricetime, though here the arc being touched is a 3rd arc (which has been penetrated).

This setup shows the energy date of 5/4/17 at the end of the 3rd square in time – also a likely turning place in time. $75 does not jump out as a likely resistance point on this chart however.  Here, 4th arc is seen ~ $95, and 5th arc is seen ~ $128.  Note that $105 shows up here as the top of the 3rd square…

I expect I will look for a place to re-enter this market on the long side, as this coin could conceivably DOUBLE from here in just a few days. Time will tell….

Remember:  The author is a trader who is subject to all manner of error in judgment.  Do your own research, and be prepared to take full responsibility for your own trades.

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Jim Fredrickson

Jim Fredrickson

Jim has an MBA from the University of Southern California. He has had a long career in both Corporate Finance and IT. Along the way he discovered that trading was a vehicle with great promise, but struggled for a long time without a mentor. After having been knocked down many times and having struggled to get back up, he had an epiphany and realized that geometry was a solution. He shares his experience here. If you do well as a result of suggestions made here, feel free to say thank you :) BTC: 1FUq3GB1Q8zz2JpuBr7YHzVBKnaWoxgmya Follow him on Twitter (@jimfred1276) or email him at jimfred1276 at gmail.

Comments
  • user

    AUTHOR jedadoo

    Posted on 4:03 pm April 28, 2017.

    Your bitcoin urgent analysis 2 days ago caused me to move all my funds into ETH before the big rise. You made me and my family 5K USD in under 48 hours. A big thank you! If you’re ever traveling through Utah, I’ll be offended if you don’t let me take you to lunch.

  • user

    AUTHOR tadej

    Posted on 4:08 pm April 28, 2017.

    Jim. I did not participate on this ETH run. Where do you recommend to enter the next run ?

    • user

      AUTHOR Jim Fredrickson

      Posted on 11:21 pm April 28, 2017.

      Many look bullish now. Monero, DASH, even ripple. I don’t think ETH is finished yet either.

  • user

    AUTHOR And

    Posted on 4:44 pm April 28, 2017.

    So I will remain in ETH 🙂 Jim, last time you wrote that Ripple will rally hard in not-distant future. Do you think this is happening now and Ripple can test ATH in the following days? Thanks!

    • user

      AUTHOR Jim Fredrickson

      Posted on 11:17 pm April 28, 2017.

      Ripple is an enigma. Every time she has had an opportunity (geometrically speaking) to rally, she has refused to do that. Maybe this time is different. I’ll be watching it…

  • user

    AUTHOR D1DT

    Posted on 7:52 pm April 28, 2017.

    Hi Jim, I’ve been following your articles for a couple of months now, and among all the information I have come across regarding trading and cryptocurrencies, your analyses have probably been the most accurate and fascinating I have found. I’ve also enjoyed some nice gains thanks to your recommendations, so just a big thank you! I hope you do consider publishing a document on your trading style eventually. Really appreaciate your work. 🙂 Diego

  • user

    AUTHOR iamniks

    Posted on 10:03 am April 29, 2017.

    Hey Jim, thanks for recommendations, especially the recently published Urgent Analysis + XRP almost doubled my investment. What is the best place to enter ETH now? It seems that it has already passed the 75$ mark.

    • user

      AUTHOR Jim Fredrickson

      Posted on 12:02 am May 1, 2017.

      be careful with eth now. and end-of-setp is due very soon. a typical place for a reversal. tighten up your stops

  • user

    AUTHOR mshiros

    Posted on 6:21 am April 30, 2017.

    Dear Jim, always a pleasure to see your recommendations. i had caught on to XRP before this rally, and stayed put even during the volatility and all round negative sentiment on it. recently bought into ether when i got some funds arranged. hoping to see such fantastic recos from your side. peace..

  • user

    AUTHOR excesstomcat1

    Posted on 8:55 pm April 30, 2017.

    Hey Jim great article. What are your thoughts on ether long term? To my understanding, the coin is only an aspect of a larger technological revolution and I am wondering about your opinion on how the ethereum platform will effect things on a larger spectrum. Thanks.

  • user

    AUTHOR DChain

    Posted on 9:12 pm April 30, 2017.

    Jim, I just subscribed! Great ETH article. Love are your articles! Do you also make follow ups to articles? I’m wondering now that Eth has reached the $75 does it validate the bull going to $105 or more?

    • user

      AUTHOR Jim Fredrickson

      Posted on 12:04 am May 1, 2017.

      I am bullish on eth, but wary right now for the sake of an ‘energy point due later today. might reverse. tighten up your stops just in case

      • user

        AUTHOR DChain

        Posted on 1:03 am May 1, 2017.

        What is an “energy point?”

        • user

          AUTHOR Jim Fredrickson

          Posted on 6:56 am May 1, 2017.

          think of it as a time to expect something to happen – like a full moon or a Fibonacci extension…

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