Long

ETHUSD Bullish Wave Setup

ETHUSD sports 5 waves up from the June low and 3 waves down from the August high. The corrective decline also forms a perfect channel and former resistance (highs in June and July) was support today. BTCUSD traded beneath its June low today before recovering, leaving a non-confirmation with ETHUSD (well above its June low). The setup is constructive and also suggests that risk assets are NOT bearish. -Jamie

jsaettele

Director of Technical Research at Krilogy, author Sentiment in the Forex Market

Twitter: twitter.com/jamiesaettele
Website: krilogy.com/

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