ETH/USD Heading back down to complete this correction
ETH looks to be forming a rising wedge pattern which should be of the continuation type, leading to one more drop (overnight tonight, early A.M. 1/19/2018) as we complete the overall market correction. However, as we have seen many times with Ethereum, I expect this C wave to be truncated and we may only see prices drop to the low 800's tagging the 0.382 Fib retracement level before we see signs of a true reversal. Additionally, I expect the market to trade sideways for about 8-10 days leading up to the close of the first CME futures contract at the end of the month.
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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.