Ethereum have to fall more than Bitcoin
Updated
Hello, everyone!
Bitcoin is staying at the same level because now it’s weekend, it’s no reason to make the update on it. The short is still actual. Today let’s take a look at Ethereum, I know you want to know my opinion about it. Let’s go.
Of course ETH is fully depends on BTC movements. If we assume short for Bitcoin, Ethereum will also probably fall. ETH has it’s own wave structure. When I told you about insane short on BTC at $24500 ETH have also started it’s dump. We can clearly see the 12345 Elliott waves cycle which as usually confirmed with the divergence with Awesome oscillator. It is the wave 1 of the higher order. Now the price as I suppose have completed ABC correction – wave 2 of the higher order. It reached Fibonacci golden pocket and now it’s time to start bearish wave 3. Also I want you to notice the decreasing volume during the wave c. It means that the current pump does not have enough strength to maintain the uptrend.
You also can check the last idea on Bitcoin to be sure that ETH analysis takes into account the potential BTC move.
Bitcoin is staying at the same level because now it’s weekend, it’s no reason to make the update on it. The short is still actual. Today let’s take a look at Ethereum, I know you want to know my opinion about it. Let’s go.
Of course ETH is fully depends on BTC movements. If we assume short for Bitcoin, Ethereum will also probably fall. ETH has it’s own wave structure. When I told you about insane short on BTC at $24500 ETH have also started it’s dump. We can clearly see the 12345 Elliott waves cycle which as usually confirmed with the divergence with Awesome oscillator. It is the wave 1 of the higher order. Now the price as I suppose have completed ABC correction – wave 2 of the higher order. It reached Fibonacci golden pocket and now it’s time to start bearish wave 3. Also I want you to notice the decreasing volume during the wave c. It means that the current pump does not have enough strength to maintain the uptrend.
You also can check the last idea on Bitcoin to be sure that ETH analysis takes into account the potential BTC move.
Note
Best regards, Ivan
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