ETH completed an expanding flat structure which I was discussing my previous post. The expanding flat here is forming the X wave and expecting another Y wave down to atleast retest the lows of 2018.
I believe the temporary bottom for ETH has already been made and now we will go back and retest.
There is a possibility of new lows too be formed but I don't see it going a lot lower.
With that being said, I will be looking to buy on the revisit of the yearly low.
Currently, its a good short setup with a target near the lows.
I believe the temporary bottom for ETH has already been made and now we will go back and retest.
There is a possibility of new lows too be formed but I don't see it going a lot lower.
With that being said, I will be looking to buy on the revisit of the yearly low.
Currently, its a good short setup with a target near the lows.
Note
This corrective structure still has one more leg to complete before the downtrend can resume itself. Looking for a test of 220 ranges on Bitfinex feed for short positions.
Note
ETH breaking down. Expecting something like this to play out. Note
Expecting a bounce for C leg on ETH too before we see more downside. Note
ETH also pumped to complete this running flat and then broke down. Now its forming a nice short trade setup for another leg down,
Note
It was a bit premature thinking the structure was complete. It did make another leg up to break the high of A wave. Expecting something like this on ETH right now.
Note
Dumped straight down to the 192 range like I was expecting. The larger time frame structure I'm looking at is flat with C leg up still remaining.
Watch for this breakout to test the top.
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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.