Hello traders!
We think that the Crypto market didn't find the bottom yet.
ETHUSD Ethereum is bearish just like Bitcoin because we see them in a perfect correlation. As expected, it has perfectly hit our projected resistance area around 120 area for wave 4, from where we may see another decline towards new lows for wave 5. If we are right, then ETH has room for 90-80 area! Only if we are surprised by an impulsive bullish continuation back above 180 region, only then we may consider a bullish reversal!
Trade well!
We think that the Crypto market didn't find the bottom yet.
ETHUSD Ethereum is bearish just like Bitcoin because we see them in a perfect correlation. As expected, it has perfectly hit our projected resistance area around 120 area for wave 4, from where we may see another decline towards new lows for wave 5. If we are right, then ETH has room for 90-80 area! Only if we are surprised by an impulsive bullish continuation back above 180 region, only then we may consider a bullish reversal!Trade well!
Note
Slow and sideways price action in the Crypto market indicates a correction, probably a triangle continuation pattern, so at the moment we don't see any bullish evidences yet! #Cryptos #cryptocurrencies #bearish #triangle #elliottwaveNote
Just like BTC, even Ethereum can be forming a bearish triangle in wave »iv«, so here as well watch out for more sideways price action before a drop into new lows for wave »v« towards 90-80 area. Note
As expected, ETH came close to 80 area, but no big changes, ETHUSD still looking lower towards 70-60 next support area for the final wave 5!
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FOREX, US Single STOCKS, CRYPTO
👉Explore Our Services @ wavetraders.com/elliott-wave-plans/
Stocks are free!
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
👉Explore Our Services @ wavetraders.com/elliott-wave-plans/
Stocks are free!
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.