ETH: Coming into Resistance Before Impulsive Decline
Whereas, I was counting wave 1-2, and i-ii done, I've spent some time on Ethereum last night. This whole consolidation fits better as primary wave 2 of 5 of C of SC II is completing now. My struggle was the amount of time spent without ever getting the start of our wave 3 has caused me to swift my count as per the above.
The Maximum we should see for wave 2 would be $1710 for completion at the .618%. We’re just now coming into the .50% retracement area at $1610. However, this move up in the very short term looks like it's going to complete at 1634. Whether that’s going to consolidate there and then push up to $1710 remains to be seen. $1710 should contain wave the wave 2 retrace. If you are currently short, please be aware price can get there.
Our first clue we have topped is an impulsive decline of $1399 followed soon by a new local that will complete at the .768% extension for our wave “i of 3” which is $958.
Best to all,
Chris
The Maximum we should see for wave 2 would be $1710 for completion at the .618%. We’re just now coming into the .50% retracement area at $1610. However, this move up in the very short term looks like it's going to complete at 1634. Whether that’s going to consolidate there and then push up to $1710 remains to be seen. $1710 should contain wave the wave 2 retrace. If you are currently short, please be aware price can get there.
Our first clue we have topped is an impulsive decline of $1399 followed soon by a new local that will complete at the .768% extension for our wave “i of 3” which is $958.
Best to all,
Chris
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