ETHUSD
The ETH-USD has been in a Bear Market ever since January 2018, correcting the previous multi-year Bull Market. It seems to be correcting as a Double Three Correction, elliottwave-forecast...elliott-wave-theory/ , of which we already trace Cycle Wave W, Cycle Wave X, and are currently tracing Cycle Wave Y, which starts at the June 2019 highs, around $364 dollars. I will explain the last Cycle Wave Y in detail later, here is the overall Long-Term Elliott Wave Count:
Cycle Wave Y, subdivides into 3 smaller waves: Primary Wave A, B & C. Of which we already trace Primary Wave A, B and are currently tracing Primary Wave C which subdivides into 5 smaller waves, Intermediate Wave 1,2,3,4 & 5. Of which we already trace Intermediate Wave 1 and 2 and are currently tracing Intermediate Wave 3. Yet also missing Intermediate Waves 4 and 5 to complete this Long-Term, Multi-Year, Super-Cycle Bear Market. Meaning we may still have a few months to finish going down, and we should also break down below the $80 USD mark, a good guess for me would probably be the $40 USD mark, and around Mid-April to finish going down.
Of course, I don’t know the future, and this is not the only possible scenario, but, is the one I’m envision and presenting in here.
Good Luck to You
Trade active
Trade active:
I’m updating my Elliott Wave Count on Ethereum, it is basically the same as the old one, except that I’m placing the end of Intermediate Wave 2 at the $187 USD level instead of the $179 USD level. From there I expect Intermediate Wave 3 to begin, it looks like it already has. Intermediate Wave 3 should break below the lows of Intermediate Wave 1 at about $116 USD. I still expect the end of this Multi-Year Bear Market in Ethereum to end at about the $40 USD level and about Mid-March, will see.
Good Luck to You
Good Luck to You
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Invalidation point is $225 US. If we go above it, then the bottom is in. This current rise up to $193.4 could still be Intermediate Wave 2.
Good Luck to You
Good Luck to You
Trade closed: stop reached