A Perfect Storm: Throw in a Bermuda Triangle
Updated
It appears a rather tall triangle pattern has formed, boding further short-term bearish sentiment for Ethereum. The downward breakout of this pattern could take us all the way down near the $265 level. Breakout appears to be commencing.
However, we are also in the C leg of a corrective ABC Elliot Wave. Likely targets for the C wave include 1.0 x Wave A ($297) and 1.236 x Wave A ($280). Together these suggest the target for the C leg of $265-$297.
Summary: Target region of $265-$297.
However, we are also in the C leg of a corrective ABC Elliot Wave. Likely targets for the C wave include 1.0 x Wave A ($297) and 1.236 x Wave A ($280). Together these suggest the target for the C leg of $265-$297.
Summary: Target region of $265-$297.
Note
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