One last dip before we take off for one last time
Updated
My outlook on this situation:
Although the market is very bullish and we are in a bull market.. I believe Ethereum needs to see one more correction.
Once it hits the key resistance area of $1320.. I can see it dropping in price to complete Wave C in this ABC correction before it moves up parabolically towards Tp-1 (fib 1.618) and TP-2 (fib 2.618) to complete the top of this bull run and start the trend of the new bear market.
This is solely my own opinion..
Although the market is very bullish and we are in a bull market.. I believe Ethereum needs to see one more correction.
Once it hits the key resistance area of $1320.. I can see it dropping in price to complete Wave C in this ABC correction before it moves up parabolically towards Tp-1 (fib 1.618) and TP-2 (fib 2.618) to complete the top of this bull run and start the trend of the new bear market.
This is solely my own opinion..
Trade active
Entered my short with a stop loss at $1360, looking for $200 dollars to the down side and then I'll take profit.
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.