ETH 24/3 TECHINAL ANALSIS
Updated
ETH is almost reaching the bottom, falling at the 0.618 fibonacci level of the previous 5th wave impulse, at the same time, based on elliott wave, ABC correction waves is almost finished and it shows confluence as well at the 0.618-0.65 golden pocket. RSI is also showing oversold, so there is a high possibility ETH will bounce from this area once volume kicks in.
Two possible scenario:
A: SIDE WAY ACTIONS ALONG THIS REGION AND WAIT FOR VOLUME TO PUSH IT UP
B: Attempt to start the 3rd waves impulse of the primary cycle since we are almost done with the corrective 2th wave.
Two possible scenario:
A: SIDE WAY ACTIONS ALONG THIS REGION AND WAIT FOR VOLUME TO PUSH IT UP
B: Attempt to start the 3rd waves impulse of the primary cycle since we are almost done with the corrective 2th wave.
Note
ETH/BTC0.078597 Is a strong resistance, consider taking profit when it hits and waits for confirmation if the 3rd impulse wave is confirmed. Once it closes above 0.078-0.08. 3rd impulse wave is confirmed.
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