Weekly Chart - Suspect ETH USD at $400 was Primary 1 wave of the current cycle. Primary wave 2 - the recent sharp sell off from the all time high. Next up then is Primary wave 3 - which should bring not only a break of $400 but carry ETH USD much higher.
Note
So far so good. Five waves up with a minor correction. A powerful thrust higher should confirm the uptrendNote
Suspect traders have been getting out as they anticipate a crash in BTC. I suspect once BTC breaks $5000, they will all start jumping in.Note
Primary wave 3 should now be underway as confirmed at the break of $400. Prices should move sharply higher as we enter the strongest phase of the trend.
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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.