After the last couple of bearish days I lost confidence in my previous ETHEUR analysis. Especially because guys like "sebastian.seliga .7" said we might be in ABC correction.
But now I am even more convinced that I'm right.
ETHEUR hast been extremely cyclic and has already performed at least 2 of these cycles and right now we are in the 3rd.
Every cycle starts with the crash of the last all time high. (ORANGE) There we can see a fist drop followed by an even deeper one to the area of the support from the last cycle.
Then we have a quick recovery (BLUE) followed by a smaller downward wave (YELLOW) wich is not going higher than the last (BLUE) recovery.
After that the chart consolidates and volatility should go down.(GREEN)
After the consolidation we can see a new rally to a new all time high (CYAN).
For the new all time high there are different possible ways for calculation (WHITE):
1. increase since last consolidation (~640) to last all time high (~1200)
consolidation now (~950) to new all time high -->1780
2. crash (~400) to last all time high (~1200)
crash (~600) to new all time high -->1800
So I personally believe we might see something around 1800 for a new all time high in a couple of days.
Do you think the same?
----
all trades on your own risk
But now I am even more convinced that I'm right.
ETHEUR hast been extremely cyclic and has already performed at least 2 of these cycles and right now we are in the 3rd.
Every cycle starts with the crash of the last all time high. (ORANGE) There we can see a fist drop followed by an even deeper one to the area of the support from the last cycle.
Then we have a quick recovery (BLUE) followed by a smaller downward wave (YELLOW) wich is not going higher than the last (BLUE) recovery.
After that the chart consolidates and volatility should go down.(GREEN)
After the consolidation we can see a new rally to a new all time high (CYAN).
For the new all time high there are different possible ways for calculation (WHITE):
1. increase since last consolidation (~640) to last all time high (~1200)
consolidation now (~950) to new all time high -->1780
2. crash (~400) to last all time high (~1200)
crash (~600) to new all time high -->1800
So I personally believe we might see something around 1800 for a new all time high in a couple of days.
Do you think the same?
----
all trades on your own risk