ETH/USD
Really, not much has changed since my last post. I have been spending much of my time in the Defi space over the last few months - the place where you either come out a degenerate or a much wealthier individual. Which, in my case, only time will tell. I'm considering setting up a twitter handle for Defi or maybe even a Telegram group to help maintain my sanity during this boring corrective price action. If I do, I will be sure to include more details or a link within my next post.
But looking at the trading world, Ethereum seems to be painting a pretty clear picture of a much longer drawn out correction.
I will be paying close attention to how the structure continues to develop over the course of the week, but as of now, I am anticipating a final breakout to the upside to finish the last leg of a Macro B wave. Followed by an impulse down to the 78.6% - 100% extension of the Macro A wave to complete a Macro Flat correction.
By and large, my sentiment regarding the cryptocurrency markets remains Bullish on a macro scale. This is the time for accumulation. Based on the structure of Ethereum, it seems we will get another opportunity for another big discount before a substantial move to the upside. As of now, targets seem to be pointing in the 7k-10k region around the end of this year into the beginning of the next year.
To all my followers, thanks for sticking by with me. These are boring times but things should be getting a little more exciting come late September - October.
But looking at the trading world, Ethereum seems to be painting a pretty clear picture of a much longer drawn out correction.
I will be paying close attention to how the structure continues to develop over the course of the week, but as of now, I am anticipating a final breakout to the upside to finish the last leg of a Macro B wave. Followed by an impulse down to the 78.6% - 100% extension of the Macro A wave to complete a Macro Flat correction.
By and large, my sentiment regarding the cryptocurrency markets remains Bullish on a macro scale. This is the time for accumulation. Based on the structure of Ethereum, it seems we will get another opportunity for another big discount before a substantial move to the upside. As of now, targets seem to be pointing in the 7k-10k region around the end of this year into the beginning of the next year.
To all my followers, thanks for sticking by with me. These are boring times but things should be getting a little more exciting come late September - October.
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