Hi everyone,
Taking a bit of a guess right now that ETHUSD is forming a bearish diamond diametric, where we currently are beginning Wave-E, taking us upwards again of $190, but likely not higher than $195.
If this in the case, it will take a couple days for this to play out, and then will be followed by a more sizeable downmove, so it's still looking overall bearish for ETHUSD.
Not financial advice.
Taking a bit of a guess right now that ETHUSD is forming a bearish diamond diametric, where we currently are beginning Wave-E, taking us upwards again of $190, but likely not higher than $195.
If this in the case, it will take a couple days for this to play out, and then will be followed by a more sizeable downmove, so it's still looking overall bearish for ETHUSD.
Not financial advice.
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An alternative in the event that D isn't done could be this, this makes most waves equal in time (probably more likely actually).
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Also, a look at the bigger picture. ETH probaly wants to head to that 61.8% retracement (spike that almost hits it is only on Polo, so I'm mostly going to disregard it), around $137.
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I should say $137 or lower - I don't have a lot of confidence on that retracement being the bottom yet.
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Still further zoomed out, I've been noticing this sort of curved trending going on within ETH, potentially (and really ideally) it will head down to the 38.2% retracement and then turn impulsive again. That'd put us around $65 as a bottom.
Time will tell.
Time will tell.
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One more potential, a bit longer time and meeting with a lower curved trend... Way too soon to tell, but the same target.
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I went long on ETHUSD now, the timing and target are perfect.
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Updated Chart.
Updated Chart.
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There's a chance that D still isn't finished, but I'll just hold my long if it continues down a bit. Adjusted the diametric to give E a better price target (trendline used now is more likely to be a resistance).
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Everything is going according to plans... currently thinking we will have a bit of gradual downwards ranging, until we eventually break the channel resistance and fly upwards... sort of symmetrically to the downmove.
Targets still approximate, been adjusting based on timing and the trendlines I can see.
Targets still approximate, been adjusting based on timing and the trendlines I can see.
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Think it's time to short - I identified the wrong type of diametric (instead tried to see a half formed one, instead of the one already formed right there).
Bearish bowtie diametric... should head down within the hour I'd suspect.
Bearish bowtie diametric... should head down within the hour I'd suspect.
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having a fresh look at ETH today, my zoomed out targets are absolute crap right now so please diseregard. The time will come for that to be hit, but we are still in Wave-B and we have a significant upmove coming. Will post a chart soon.
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Scratch that, the zoomed out analysis is pretty on point... ~$140 will be ETH's bottom, then we will climb to 470-600 until the BTC halving. The halving is going to absolutely demolish crypto in a big way.
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Will post probably a new ETH chart once I get all the counts sorted out, but I know what's going on now on the big picture too, it's very clear.