Ethereum ETH - Detailed Analysis - Consolidates. Long Term Target Stands $1,750.steemCreated with Sketch.

in #ethereum7 years ago (edited)

ETHEREUM Consolidations, But Long Term Target Stands @ $1750. I will STRONGLY Emphasize the correction would take a while

We see wave 3 hitting between 261.8 and 361.8 extensions. Therefore we can assume a 5th wave can achieve between the next fib extension targets of 361.8 and 423.6.

We can see the impulse wave 3-4-5 and A-B-C possibly form a head and shoulder pattern. It is important to make note when C ends as an impulse can be attempted.

Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders

Please consider these videos:

Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - Tutorial Part 2 How to Analyze Candlesticks Charts with Strategy
Lesson 3- Let's learn Moving Averages
Lesson 4- Let's Learn Relative Strength Index RSI with Advanced Strategy
Lesson 5 Let's Learn MACD and Histogram
Lesson 6 Let's Learn Margin Trading Long, Short, Leveraging
Lesson 7 Let's Learn Basic Risk Management
Lesson 8 Let's Learn Fibonacci Retracement Part 1
Lesson 9 Let's Learn Fibonacci Extension Part 2
Lesson 10 Quick Intro to Analyzing Level 2
Lesson 11 Introduction to Laddering

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Hey Phil, Looking at the graphs over the last couple of days and your recent analysis - if BTC fails to break $12.4 and drops back - then as ETH seems to be in lockstep it will also drop back to around the $800 mark - does this then "hasten" your correction scenario and hence bring forward the time for last wave 5 - or will it invalidated this analysis and back to the drawing boards ?? (Still learning EW at the moment)

Craig

Hallo Philakone,
I like your style of TA .
I am also interested in an update of the following coins: OMG, EOS, Stratis, Qtum, XRP, Bitshares, Cardano.
Do you think we could enter a longterm bear market (>1-2Years )after the End of the Cycle for Bitcoin and the End of the Fifth Waves of a lot of Alts.
Thank you
Wish you tons of Profits!

Excellent content as always - matches my thoughts exactly. I love Eth but might have to get out for the time being.

Again, thanks for your guidance!

Wonderful analysis and teaching, I did not know you but that's really good advice you're giving. Upvoted & following.