DesWong
Long

ETH 24/3 TECHINAL ANALSIS

BINANCE:ETHBTC   Ethereum / Bitcoin
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ETH is almost reaching the bottom, falling at the 0.618 fibonacci level of the previous 5th wave impulse, at the same time, based on elliott wave , ABC correction waves is almost finished and it shows confluence as well at the 0.618-0.65 golden pocket. RSI is also showing oversold, so there is a high possibility ETH will bounce from this area once volume kicks in.

Two possible scenario:

A: SIDE WAY ACTIONS ALONG THIS REGION AND WAIT FOR VOLUME TO PUSH IT UP

B: Attempt to start the 3rd waves impulse of the primary cycle since we are almost done with the corrective 2th wave.
Mar 24
Comment: ETH/BTC

0.078597 Is a strong resistance, consider taking profit when it hits and waits for confirmation if the 3rd impulse wave is confirmed. Once it closes above 0.078-0.08. 3rd impulse wave is confirmed.
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