Ethereum has entered despair territory.
I predict it will bounce on the lines where the Fibonacci levels intersect with the Fibonacci levels drawn from a smaller range, namely green, yellow, red.
Elliot Wave theory is then used to predict the future.
Good luck! Hope you enjoyed the show!
I predict it will bounce on the lines where the Fibonacci levels intersect with the Fibonacci levels drawn from a smaller range, namely green, yellow, red.
Elliot Wave theory is then used to predict the future.
Good luck! Hope you enjoyed the show!
Note
Ethereum seemed to have found a bit of support at 355, there is also the yellow dashed trend line. The stock market was also closed on Friday. We would need a better bounce than what we've seen in order for this chart to get invalidated. Did you also notice the how ETH gained in terms of BTC? The trend line and 355 support / fib. support had to have played a role. I see this chart having a lot of potential. It won't play out exactly this way, but this combines so many ideas together. The Elliot wave has a decent chance to play out that way, because it would be very similar to previous price action in the past where we made an ATH and then almost touched the ATH again.
Once again, good luck to my fellow position traders, hope we get filled in the future. This chart should give you a general idea where I've played a lot of my limit buys ;)
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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.
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.