ETHUSD.
This analysis is based on the Elliott Wave Theory. The price is showing strong bounce from the 100% fib level which is a good sign. Because wave C is commonly a 100% retrace of wave A. Another possibility is arises from the fact that the C wave is also showing 5 subwaves downside which can signal a trend reversal.
However, the possibility remains as long as the price does not break this level, then we can conclude that the correction is likely to end here.
Always manage your risk while trading.
This analysis is based on the Elliott Wave Theory. The price is showing strong bounce from the 100% fib level which is a good sign. Because wave C is commonly a 100% retrace of wave A. Another possibility is arises from the fact that the C wave is also showing 5 subwaves downside which can signal a trend reversal.
However, the possibility remains as long as the price does not break this level, then we can conclude that the correction is likely to end here.
Always manage your risk while trading.
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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.
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.