ETH - Simple correction or slow sell off before the black swan?
Updated
I have been watching 
ETHUSD from time to time and i could not understand its movement. Fortunately, it made a lower low and now we have same potential paths for its next move.
Now, i never trade based on news, but recently Vitalik posted a tweet saying that cryptos could go to zero at anytime. Well, "well done Sherlock!!" you might say without even trying to think about it. Vitalik is beyond smart and he doesnt say something just for the sake of it or for dragging attention. Combine that with info from his circles/connections and you might realise that this is not a simple statement.
The real question is : "Was that statement for all cryptos or an indirect message for Ethereum?"
Should i remind you what the "good-guy" ( called by many) Charlie Lee did and said few months ago?
"Oh, no no no ! This is FUD! ETH will moon, you will see! 2018 is the year of flippening!"
ETHUSD from time to time and i could not understand its movement. Fortunately, it made a lower low and now we have same potential paths for its next move.Now, i never trade based on news, but recently Vitalik posted a tweet saying that cryptos could go to zero at anytime. Well, "well done Sherlock!!" you might say without even trying to think about it. Vitalik is beyond smart and he doesnt say something just for the sake of it or for dragging attention. Combine that with info from his circles/connections and you might realise that this is not a simple statement.
The real question is : "Was that statement for all cryptos or an indirect message for Ethereum?"
Should i remind you what the "good-guy" ( called by many) Charlie Lee did and said few months ago?
"Oh, no no no ! This is FUD! ETH will moon, you will see! 2018 is the year of flippening!"
Note
Ethereum reached 590$. Pretty impressive if you ask me. It will bounce around 520$ just before that down trend confirmation. The force of gravity is stronger on this chart. :)Note
Technically this can still be a 4th for the first impulsive move up, but lets be honest here...Note
In case it is, double top is the best case scenario.Note
There is a chance that Ethereum is already on the way up for the bigger B.One of my pivot points for the fibs was a flash crash, i edited to the closest higher low and seems like the last dip hit the ration barely. We can can expect some short term uptrend once it bounces one of the boxes below.
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One last dive here to 420ish area. Its probably gathering strenght for the "flippening". Sorry guys, its not happening.Trade closed: target reached
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Potential bounce for ethereum at 430+-5 . It has very deep V reversals, catching the bottom here is very hard so wait for a bounce. Multiple divs on many timeframes.Note
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I keep readjusting the count here. The structure feels incomplete and there is no real volume fora bounce.Note
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Alternative count. Bounce targets lower too. Either way, it looks like a nice mid term trade.Note
For those of you that are delusional, and expecting the flippening this year (if ever) or you think that the crowd has the upper hand on this, BTC 3k or whatever ( yes there is a chance for that), this is my little atempt to convience you otherwise.Look were the final algo target is, pretty sure this is a coincidence, right? But of course, it doesnt mean that it will get there, here is were the crowd has a chance to interfere.
Note
Thats a linear chart btw. it just looks different, targets dont change obviously.Note
Updates will be posted on the new idea.
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