Ethereum ETH/USD Technical Analysis 5/27/2018

Technical Analysis:

• Ethereum ETH/USD working on its 5th wave down to complete its ABC correction
• .618 fib level at $540 which is the first target down - viable place for a bounce
  •  Although I am expecting a dip in between .618 and .786 fib levels around $500-$540
• $540 is a good place to start laddering a position
  • If it goes up from there you can cost average position ans still be profitable
  • If it goes down from there you can cost average position so that you can be profitable at a lower price
• .786 fib level will act as support if it breaks lower than $500
• Stop loss between $435-$445
• Bearish divergence on the MACD - expecting a short term dip in price from here
• Expecting a run past $1000 long term once this correction is complete

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