Ethereum Update: Still Looking For A Triangle

Updated

Ethereum is still sideways in a triangle corrective pattern as we mentioned in earlier updates. It's pointing up into wave D now with double zig-zag, similar as correction into wave C. Keep in mind that upside can be temporary limited arround 78,6% Fibonacci retracement and 350 level. So be aware of another decline into wave E after reached wave D!

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Note

No big changes since last update. Ethereum is still trading in a double zig-zag into our projected target for wave d. We can clearly see three waves up into wave W, X as a bear trap and now is looking up for C of Y arround 350 level.

Note

Note

Ethereum hit our projected level of 350 into wave d!! Be aware of a decline in next days into final wave e, where we see a completion of a big triangle.

Note

Ethereum declined in three waves down into wave e and bounced as we expected!! We didn't see 250 level, so there still room for more weakness, but generally speaking triangle could be completed. Keep in mind that bullish confirmation is only above 355!

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