pulling apart the charts looking to see if they are still holding the previous patterns and projections, and ETHEREUM right now in an area of interest for me.
Way back in June, which in trading time is forever ago... I posted this chart.
And guess what... here we are...
So I am now on the hunt to see if this price prediction will still be valid, or f we are going to correct deeper for ETHEREUM ...
I gave you all the chart with the cup pattern that showed ETH could see a possible $850 if it was to continue, BUT we did not, as soon as the chart was posted, we turned down the other way within a week. We have had various attempts to continue higher, but the cross support was calling, we needed to see how much support ETH actually had, and in this region, it has bounced strongly.
WILL THIS HOLD?
What I have noticed is that in a similar vain to BTC , ETH could be in a 4th wave, and not 5 completed. It meets the criteria, and our wave one could have been a , as the wave structure meets guidelines, and wave 3 here, is not the shortest.
The rule states - wave 3 does not need to be the longest wave... BUT it cannot be the shortest, which when you check the price indicators on the chart, this is in fact the case. Right now Wave 1 and 4 do not cross, and I have marked on the chart where this pattern invalidates. ($184ish region)
Depending how tightly you draw the parabola, we still could be in that movement...
In the next few hours to days, we are going to retest this region, if this holds $500 plus is on the way!!!
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION
(minimize your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like, that way you get updates as I post them.... :) <3
It could in 2020, but not this week bro. This is a casino environment, they don't want to scare away customers. They will slowly take money from the bulls.