Tuesday update - Wave (v) loses steam

Feel free to comment on this video, we are interested in what you guys think about it!

Please note that we are already invested in Ethereum since the 15th of June, back then we announced our first positions here on tradingview.

Long Ethereum ( ETHUSD )
AVERAGE EXECUTION PRICE: 1’057.6$
STOP-LOSS: NONE
LONGERM Target: +8’000$

Note

Ethereum 8H (Bitfinex) - Primary count 1

Note

// THURSDAY UPDATE //

The scenario in Ethereum is nearly identical with the one in bitcoin.

It is possible that we have formed another bullish 1-2 which should bring us to price levels close to 1’800$ or even to 2’000$, we will watch this scenario closely and will inform everyone if necessary.

I want to make sure that I said it here again, a further expansion of wave (v) is ABSOLUTELY POSSIBLE.

Everything important is marked on the chart, feel free to ask questions if something may be unclear.

The market may have lost momentum and as of now it may look like we established the top of the big wave (i), but just keep in mind that especially in crypto, wave 5 impulses can expand drastically. The upcoming days should clear things up, and we will update you guys about this in time.

Personally, I wouldn't be surprised if the whole market could expand further, and therefore we won't close any positions in bitcoin or other cryptocurrencies.

Mendenmein-Capital

If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.

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Mendenmein-Capital

If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.

Also on: