It looks like ETHUSD has confirmed that it's in an impulse wave up, starting what looks to be wave 5 of it's recent directional change.
(Thought perhaps this is just some larger ABC correction of a downtrend and we're looking at an A wave up?)
Either way, it's short term bullish.
Based on Fib Ratios from Waves 1 and 3, I suspect that this wave will find it's conclusion somewhere between 583 and 616 before it begins it's ABC correction.
At that point, I expect it to land in the 487 USD area, give or take 20.
If you're already in, congratulations, if you're not in, this is a potential, though risky, trade.
(Thought perhaps this is just some larger ABC correction of a downtrend and we're looking at an A wave up?)
Either way, it's short term bullish.
Based on Fib Ratios from Waves 1 and 3, I suspect that this wave will find it's conclusion somewhere between 583 and 616 before it begins it's ABC correction.
At that point, I expect it to land in the 487 USD area, give or take 20.
If you're already in, congratulations, if you're not in, this is a potential, though risky, trade.
Comment:
ETHUSD Touched $588, fought for a while, and appears to be in correction now.
Comment:
Short term correction, pushed $645 earlier today which was above my target zone. Looks like it's possible it may still have another push in it, if it gets an extended 5th wave. At this point, it's unclear. Could be done, could keep going?
Comment:
Totally kept going. Strongly suspect that Wave 1 was misdiagnosed and was still part of the earlier corrective pattern. Wave 3 was 1, 5 was 3, and I missed wave 5 altogether. =(