ETH/USD
It looks like we could potentially bounce up again here. If so, I'm looking for ETH to retest $400 - $405 before continuing down to $250 - $300. What's most important to highlight here is the overall structure. Everything is clearly 3 waves here. It is corrective - this is neither a breakout nor bullish.
Note
Note that we are currently trading at the .786 (Ethereum's most reactive fib. level). It's entirely possible that the structure is finished here so I would highly advise against chasing it with a long here.
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Related publications
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.