- Ethereum - I see the pink lines as an ABC Correction - If the correction below $612 was the start of the first Elliott Wave and it follows the EW-Theory, we should se a movement as shown. Please ignore the timeframe...
This is my idea for the next days. A "ABCDE-Elliott Wave" Correction Target is the red box - lets hope this support holds :)
Here is an Idea based on Fibonacci-Time and Elliott Wave Theory
A close above the 0.236 Fibonacci level equals moon
#VEN will soon break out of this pennant and chase these targets as the second Elliott Wave has finished. 700k 780k 840k
Some Supports/Resistances If we break 7900$ to the downside we will probably test the purple marked trendline around $6050. If we break the resistance between $9000-$9030 we are heading to $9800-$10.200
If Ethereum follows the Elliott Wave theory, then it should look like this
Green - Tp 1 Yellow- Tp 2 Orange - Tp 3 Red - Tp 4 Stoploss 4850sats
2 possible scenarios Support at the EMA-200 is strong atm. Closing UNDER the EMA-200 is very bearish
The EMA-200 shows strenght to the upside, so I think BTC might go down as low as $7900
Purple box: Support/Buy-In Target Price 1: green box Target Price 2: yellow box Target Price 3: red box