EW means Elliott Wave, and Elliott wave is very cool, not ewww... Or at least that has been my findings studying it for a couple months now.
The ethereum chart is very clear, with two impulse waves separated by first of running flat, and then a traditional flat corrective phase. We have just completed the traditional flat corrective phase.
EW provides a way to calculate price targets, the current likely price target is not looking that favorable, suggesting a return to merely the previous highs, not even the all-time high! However, as Wave five gets moving, we can use the subways to calculate a potentially more accurate price Target.
The recent Bitcoin dump allowed ethereum to complete its corrective phase in my opinion. Despite the sluggishness of the market currently, we should still see some fireworks in the months ahead!--and that's it folks, time to sell when you see it! Likely bear market time afterwards. Hopefully ethereum can eeek out a new all new all-time high before then
The ethereum chart is very clear, with two impulse waves separated by first of running flat, and then a traditional flat corrective phase. We have just completed the traditional flat corrective phase.
EW provides a way to calculate price targets, the current likely price target is not looking that favorable, suggesting a return to merely the previous highs, not even the all-time high! However, as Wave five gets moving, we can use the subways to calculate a potentially more accurate price Target.
The recent Bitcoin dump allowed ethereum to complete its corrective phase in my opinion. Despite the sluggishness of the market currently, we should still see some fireworks in the months ahead!--and that's it folks, time to sell when you see it! Likely bear market time afterwards. Hopefully ethereum can eeek out a new all new all-time high before then
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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.