Updated

ETHUSD to test 120 before bounce? Ethereum in ABC correction

ETH and all other crypto's look to have one more leg down before possible uptrend resumption.

The rejection was quite strong, and the price retraced to the .618.
Thus an AB=CD retrace would put the end of C at the -.382 extension.

There is a support zone in 125-126 area, and 125 is a psychological round number.
If bulls can hold 125 then it would be a great sign for other bulls.

Note

That first resistance (red zone) proving its energy level with two rejections

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Yup, that zone is very relevant.

When we get past it, I will be counting on it as a serious support.
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Possible EW path that could make 125.50 the end of the ABC correction

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ETH approaching a local 4.236, possible end of this little wave up

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ETH definitely noticed the 4.236

if it drops below the 3.618, wave likely done.
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ETH still going. Next up the 4.618

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Rut Roh. 4.236 was breached briefly, and then rested as resistance

the 3.618 is still the line to watch rn
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ETH definitely paying close attention this fib still

which means to me that this is a pretty important move, and the results thereof will be relevant for a while
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ETH: this 3.618 breach after being unable to reach the 4.618 tells me the 3.326 is bulls' last stand on this wave

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Approaching a possible top here at the 4.236 around 156

slowly closing my longs into that zone.
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EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

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EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag