Critical zone for ETH and whole crypto market
Updated
After the 5 impulsive move downward from local top, ETH seems to be in a complex correction waves consisting of ABCDE, with wave E looks to be completed, i am expecting it would be followed by downward move soon which can potentially send the market into lower levels most likely.
Vice Versa, Invalidating these triangular waves here can potentially pump ETH towards 3.7k at the upper level of its ascending channel.
I am rooting for a downward move since it seems like everyone in the market is expecting upward move which makes that scenario less probable.
Vice Versa, Invalidating these triangular waves here can potentially pump ETH towards 3.7k at the upper level of its ascending channel.
I am rooting for a downward move since it seems like everyone in the market is expecting upward move which makes that scenario less probable.
Note
Shifting invalidation point to 3045 in case the wave C ended at the previous swing high instead of the mentioned swing top.Note
See my recent ETH analysis for a possible scenario on LTF, invalidation point for bearish movement remains same as mentioned above in this chart (~2980$)
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.