Elliot Wave 5... ABC Correction Coming Soon???
I know everyone is super bullish right now so I'm not sure if anyone is open to hearing this... but, it looks like we're in the middle of wave 5 with a target of around $1150. After that, we might be looking at revisiting the long term support formed in the previous ascending triangle (yellow line).
History shows that ETH tested the $400 level then returned to this trend line for two complete cycles before breaking out of the triangle.
I want to hear your thoughts on the possibility that this could happen again at a resistance of about $1200 then trace back to the 450ish level in the first quarter of 2018.
To me the charts look eerily similar...
And with the Christmas FOMO sale hitting the $450 levels it doesn't seem that far-fetched to me that we revisit these lows before moving on.
What are your thoughts?
History shows that ETH tested the $400 level then returned to this trend line for two complete cycles before breaking out of the triangle.
I want to hear your thoughts on the possibility that this could happen again at a resistance of about $1200 then trace back to the 450ish level in the first quarter of 2018.
To me the charts look eerily similar...
And with the Christmas FOMO sale hitting the $450 levels it doesn't seem that far-fetched to me that we revisit these lows before moving on.
What are your thoughts?
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