The Long Investor

$ETH

Added 2024-05-24 09:01:38 +0000 UTC

So $ETH got its ETF approval from the SEC yesterday and there was very little reaction as the move happened before the announcement, which accounts for the +25% rise over the last few days.

We did not chase this as it moved up, we bought as it was declining in the bullish wedge and strictly kept to the strategy and it has paid off nicely for us.

Now lets wait for the pull back

If we assume that Subwave 1 of Wave 5 is complete now since the announcement is made, then I have added in the White Fib levels if the pull back continues, the price action can go to between the 0.5 - 0.618 Fibs at $3405 - $3279 and the 50 Day MA will move higher to meet the price action here.

This would make for a strong confluence level and the ideal area to add again if you haven't bought enough already.

$ETH for me is destined to make an ATH before its ABC correction so I am open to take advantage of this again.....it has moved incredibly well and predictable, as long as this continues, we'll make money from its moves.