ETHUSD bears in charge: Short tf (4hr) analysis
For those interested in my earlier post concerning EthereumUSD in a bear channel and projections, the post can be found here:
The chart above shows an Elliott wave analysis for EthereumUSD. Price close of $672.10 on the 4hr tf has been identified as a possible Minute wave ((i)) position. It is possible that minute wave ((ii)) is not yet complete which is why I have put a question mark next to it. The implication of the above is that once minute wave ((ii)) is complete, ETHUSD should resume selling off.
Target for the sell off could be a projection of minute wave ((iii)) = 161.8% minute wave ((i)). However I have not calculated this because it is possible that minute wave ((ii)) is not yet complete.
POI = Point of invalidation at which the analysis requires revision
The chart above shows an Elliott wave analysis for EthereumUSD. Price close of $672.10 on the 4hr tf has been identified as a possible Minute wave ((i)) position. It is possible that minute wave ((ii)) is not yet complete which is why I have put a question mark next to it. The implication of the above is that once minute wave ((ii)) is complete, ETHUSD should resume selling off.
Target for the sell off could be a projection of minute wave ((iii)) = 161.8% minute wave ((i)). However I have not calculated this because it is possible that minute wave ((ii)) is not yet complete.
POI = Point of invalidation at which the analysis requires revision
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