Ethereum (ETH): Impulse Down Expected
SUMMARY
Here is Ethereum's (ETH) short term chart with updated Elliott Waves. It seems as blue A and B are now complete and C has started. The subwaves of C show that waves 1 and 2 (white) are complete and if that's the case, then wave 3 down is next. Since wave 3's personality is that it moves most violently, it could be a bit scary and unnerving for the unaware. The key is complete the blue wave C.
On the bigger picture, the bull flag just looks more and more developed as the days pass. The red ABC could potentially evolve into an ABCDE; but given that the red C is at the 0.618 Fib zone, it's less likely. However, if the D and E waves are required, price could then retrace to the 0.78 Fib zone.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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Hi @haejin, Iittle off topic... I propose to make a peace in current Flag Wars for a week. I believe that not using flags is good for everyone, my arguments are here: https://steemit.com/steemit/@petermail/flag-wars-the-path-to-victory
You nailed it! Flag came! Nice analysis, I will learn something ;)
It seems it's gonna be a pennant instead of a flag... why not?
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ARY + FeDex?? Somebody know??
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What about the head and shoulders pattern you were talking about a couple of days ago? Is that still not valid?
Where is the “ethgift” reply ！？？