So here is my EW count for ETHUSD
. This appears to me as the corrective 4th wave. ABC
correction could be coming to an end. If this is the 4th wave of this cycle then it could be a short correction like we are seeing because according to this count wave 2 was a long correction so wave 4 should be shorter. The weekend should be interesting. ETH did a double bottom
at the $770 level, that is the strongest support we've had, if ETH breaks down towards that zone again it could finally break through the support which would have us looking at $720 to $550 zone.
Disclaimer - I'm a novice trader learning technical analysis
, please don't take this as investment advice. If you have any critiques or anything to add please feel free to comment below. Thanks for viewing.