A crypto telegram I follow had ETH in a range box running from roughly $650 to $730. On the daily I can see it. On the 4 hour though it presents to me as a wedge. Your thoughts?
None of the fib points matched up nicely for me so no clue on targets. Elliot wave guy I follow is trying to sell this as the consolidation for wave 5. Me, I'm flat. I think the SEC will make an example of a coin at some point (today's low cap coin they took down isn't a big enough message) and I'm concerned that'll be ETH. No evidence to back that up. Pure....100%...... speculation.
ETH's functionality and promise seems to be fading a touch as other projects conceivably could catch up and pass this first mover. Fundamentally still strong but a concerned glance over your shoulder is warranted.
I'm very inexperienced at pattern trading and all my posts are meant as a public record of my thoughts as I learn to trade. Please do your own research before taking a position in any investment.
None of the fib points matched up nicely for me so no clue on targets. Elliot wave guy I follow is trying to sell this as the consolidation for wave 5. Me, I'm flat. I think the SEC will make an example of a coin at some point (today's low cap coin they took down isn't a big enough message) and I'm concerned that'll be ETH. No evidence to back that up. Pure....100%...... speculation.
ETH's functionality and promise seems to be fading a touch as other projects conceivably could catch up and pass this first mover. Fundamentally still strong but a concerned glance over your shoulder is warranted.
I'm very inexperienced at pattern trading and all my posts are meant as a public record of my thoughts as I learn to trade. Please do your own research before taking a position in any investment.
Comment:
Well I'm 2 for 2 falling to the downside of channels or wedges. Market took a tumble, it happens.