I was looking at some ICOs and ETH prices... wow super cheap... but also noticed a couple of patterns here so thought I would share my thoughts on the current situation I am seeing at the moment...
ETHUSD chart has 2 very clear patterns right now and could be either. I see this as the reason we may still be correcting. I noticed the pattern in BCH and this also applies to ETH, maybe we are still correcting from ATH in which case 2 clear price ranges are pictured on this chart depending on which pattern is the correct one.
If this is C wave from ATH - price is looking to head lower $308 target If this is wave 2 correction and we recently had wave 1 - $464-421 Target range
And if this 2nd target range is where it lands, we are about to go into wave 3 which is the strongest wave :)
So for now... Safe and happy trading!
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION (minimise your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
<3 Lisa
DISCLAIMER:
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like, that way you get updates as I post them.... :) <3
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WAVE 2 target has seen a turn at the $421.00 mark... will this hold? We still have a wave 5 missing.... so will we get a double bottom? Only time will tell.
Well it tagged the $421 target. Not sure if this is the turnaround though. If it is then ETH is on it's way to overtaking BTC. Roger Ver thinks that ETH will take over first and then BCH will win out in the end. I tend to think he is smart enough to know what is going on.
LisaNEdwards
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@astrologychick, I tend to agree with him :) Once BCH starts tokenizing ICOs and sidechains... it will completely takeover IMO.
astrologychick
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@lne, 100% agreed. Do you know when that is planned to happen? There is a meetup tomorrow night in SF for BTC about Lightening network apps that are now being released by the (untrusted by me) core team. This is not what you are talking about I know, but BTC is also trying to rush to the application marketplace asap. They call their Lightening Apps Lapps - this is a very cringy name IMHO. I am debating weather to go to the meetup or not. They do have free food, lol.
codmaghz
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yess .. but is it possible btc falls and eth goes up specially in this situation of fear and blood ? i guess if btc falls down doesnt matter what pattern the eth chart have ... we can only consider corresponding low targets ... right ?
LisaNEdwards
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@codmaghz, anything is possible, and both right now are vying for market dominance....
TradeClass
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I gave this a like. Down IS the most possible trend. Where the bulls are hiding is anyone's guess.
I have also been torn between these two possibilities. The one thing that makes me almost certain we are in wave two is the fact that the "Possible" B wave consists of a 5 wave structure. B should be 3 waves.