Ethereum Correction continiues...
I am looking at the weekly Poloniex chart in log scale as it goes all the way back to ETH trading for Cents.
You can see there was a full 5 wave cycle and we are now correcting down towards the .78 fib line, long term trend line and possibly even the low of wave iv before this correction is completed. I hope you took some profits as its been nasty.
There is still a possibility for a higher low on the BTCUSD chart that could bring a premature end to this correction. Failing that ETH at $150 is looking more and more likely.
You can see there was a full 5 wave cycle and we are now correcting down towards the .78 fib line, long term trend line and possibly even the low of wave iv before this correction is completed. I hope you took some profits as its been nasty.
There is still a possibility for a higher low on the BTCUSD chart that could bring a premature end to this correction. Failing that ETH at $150 is looking more and more likely.
Note
big picture...
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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.