RE: ETH/USD update
I've had the same question before, but felt like too much of a noob to ask. :)
As a side note, thanks for posting, srezz. I've been following the crypto space more with a long-term investment view for a few years. Having inputs from someone who has a solid grip on TA is a great complement, been very helpful several times.
In case anyone's interested, my favorites are ETH and IOT. Look at the talent, vision, pragmatism, and leadership. Bitcoin would be great (and what got us all into this, of course), but this Blockstream vs. miners (and to some extent libertarian idealists) civil war is driving me nuts.
Anyway, I digress. The main point was that I've also wondered how the targets e.g. from weekly charts like this one differ from, say, targets based on 1D or 4H volatility from a timing perspective.
Thank you. :)
This is a weekly chart and therefore we are looking at 116 days cycle (16.5 weeks). From the introduction of ETH up to now there are 107 weeks or 6.49 of such weekly cycles. In other words we are half way through into the 7th weekly cycle. Thus we are looking at 8 to 9 weeks for ETH to reach the target for it based on the weekly volatility of the current cycle.