That doesn't look good

Chart shows a ending diagonal 5th. That's not a good sign. Unlikely that it's a begging diagonal of wave 5. I'm expecting a short term bounce from the 1100 area but it's likely that this bull move for ethereum is over for now.

I would expect a correction toward the 700 area over the next few weeks.

For all you Mooners out there don't fret to much if I'm correct that pattern should create a giant cup and handle.

Note

Still like the 1027-1100 area for a bounce. If I were to place a bullish count on this cart, that is the area I would expect a reversal.

Note

We are in the zone with one more wave down. Currently completing the 4th of the 5th. Lets see if we smack that 1027 on the nose.

Note

Well that was a nice 30% bounce. This would be my bullish count and that 1250 area should be strong support. Assuming that area holds a retest ETH is going to have a great month ahead of it.

Note

That is not an easy count. Had to pull the pitchfork out to help, but it would appear we have one more push. Like I said earlier that 1250 area is a good support zone and the .5 retrace. However BTC does not look bullish and appears to be heading for a dump down toward the 26k area over the next few days.

My question is will ETH continue to push higher while BTC pushes lower or have we just seen the completion of an AB and are in the 1 wave of a C ?...

Note

That was a good reaction off the .5 but we have further to push. This structure is starting to look more bearish. I would think the .618 area is looking more likely considering the current trend.

Note

Well that .618 pivoted nicely. 5% bounce is pretty nice. Lets see if this low holds. Hope ya'll had some great profits this week.

Mycomorel35

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.

Mycomorel35