ETHUSD Profit Taker Roller Coaster - 1/7/2020

https://www.tradingview.com/x/9b5GMmLz/

Ethereum is showing retracement signs to trends that occurred in the winter of 2017-2018.

Price Action on a consistent uptrend above the 50/100/200 day Moving averages.

A large single day wick pull back bouncing off the 50 day MA is inevitable. => Buy oppurtunity.

If history repeats itself the price will correct intraday an continue to rise to ATH - predicted to be a 200% gain from the 50 day MA bounce.

From there it is bearish and irrational sell offs will begin presenting more dip buy opportunities.

See chart for price levels.

*Exact kick off to this pattern is unknown but will likely occur in the next few days.