ETH plausibly completed correction
This won't be a long one.
- ETH has almost (within $12- reached a 1:1 extension of the fist major corrective move).
- Just like in 2018/19 it has corrected more deeply than BTC.
- Last time "big daddy BTC" recovered first and went on a run while ETH continued dipping.
- This time maybe the same maybe different.
- At least a plausible (just like in BTC) 5 sub-waves down the swing-low.
3rd largest BTC wallet accumulating BTC at current price levels.
- I don't see any clear bullish RSI divergence on the daily timeframe - which is what I am waiting for. But some indicators pointing towards a potential nearby change of direction.
- If the swing low is broke, several support levels shown below.
- Possibly worth an UNLEVERAGED buy to build up a position. Leverage got us into this mess.
If you are short term swing - a couple of major upside resistance points marked. As well as the 55EMA will probably reject any big move to the upside in the next few months.
Good luck everyone and protect those funds.
OMG this is a "short one?"
- ETH has almost (within $12- reached a 1:1 extension of the fist major corrective move).
- Just like in 2018/19 it has corrected more deeply than BTC.
- Last time "big daddy BTC" recovered first and went on a run while ETH continued dipping.
- This time maybe the same maybe different.
- At least a plausible (just like in BTC) 5 sub-waves down the swing-low.
3rd largest BTC wallet accumulating BTC at current price levels.
- I don't see any clear bullish RSI divergence on the daily timeframe - which is what I am waiting for. But some indicators pointing towards a potential nearby change of direction.
- If the swing low is broke, several support levels shown below.
- Possibly worth an UNLEVERAGED buy to build up a position. Leverage got us into this mess.
If you are short term swing - a couple of major upside resistance points marked. As well as the 55EMA will probably reject any big move to the upside in the next few months.
Good luck everyone and protect those funds.
OMG this is a "short one?"
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