ETHEUR - can it do it?This is s little bit forced analysis (or rather a wish :) but regardless of this.
If we take this as Elliott triangle wave, we would need a touch of resistance somewhere in D and then pullback to E. Is it feasible?
Well, we have 20 days more to reach points D and E, and in the past ETH was able to reach +20% and -43% in 20 days (see "20d" mark before point C). In our case it would have to rise 25% to reach D and then drop 30% to reach E. And then, if there is any justice, we should see breakout through resistance and up we go.
Point E would also mean 61d period, like it was between A and C.
Plus, after Rise 1 we got back to 78% Fib level in Fall 1 and even broke through it.
In Fall 2 we got bellow 61% Fib level and almost touch 78% (so a little bit less).
Could it be that in Fall 3 (if Rise 3 ends in point D), we would close well bellow 50% and touch 61% level?
That would be awesome :) but as I said, this is more of speculation than proper TA based on facts :)
