The current structure looks like a large leading diagonal of which we are in the final stages, the 5th wave has o play out. This aligns with the recent price jump which looked corrective in nature, I'm considering that as wave 4
This pattern is similar to ETC chart I posted recently (linked below)
This assumption shows that we are in the last stages of 6 month correction,after which we will have a relief rally of at least 50%, which according to my recent long term analysis will be a corrective rally
Overall, I believe ROI for longs is better in the next 1 -2 months, confirmation is when we breakout from the diagonal (now or after a quick drop)
Also ETH BTC ratio looks set for a strong bounce
This pattern is similar to ETC chart I posted recently (linked below)
This assumption shows that we are in the last stages of 6 month correction,after which we will have a relief rally of at least 50%, which according to my recent long term analysis will be a corrective rally
Overall, I believe ROI for longs is better in the next 1 -2 months, confirmation is when we breakout from the diagonal (now or after a quick drop)
Also ETH BTC ratio looks set for a strong bounce
Trade closed: target reached
Target hit for 75% hike since the chart was posted, this is the 0.618Fib bounce of the entire move down, so expecting correction
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twitter.com/imkeshav
youtube.com/channel/UCskbBdZstBUQ_4y2o912zzw
Related publications
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.
Follow me for more updates
twitter.com/imkeshav
youtube.com/channel/UCskbBdZstBUQ_4y2o912zzw
twitter.com/imkeshav
youtube.com/channel/UCskbBdZstBUQ_4y2o912zzw
Related publications
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.