ETH crashed 34%! Wow... but this correction IS GOOD. See my latest YouTube video on ETH.
We re-tested the old ATH level as support! If this holds then we're set-up for ETH to go much higher.
Questions is... did you buy? If not, there may be reasons to buy in the old ATH area as highlighted by the chart around $1,360... if we revisit it again.
Why buy?
1. We are at a major support level (old ATH + Fib level) 2. We corrected over 30% 3. We are in a bullish market! 4. We have bullish divergence on lower timeframes 5. We bounced on this level confirming it as support 6. We completed a 5 Eliot wave down
I find it very unlikely for ETH to drop below $1,360.
Once we clear this pattern and correction ends, ETH is ready to go much higher. This correction is good for price long term.
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