I am actually on Ether but trying to keep neutral in analysis.
Bulls need to get above 154 quickly to invalidate this scenario.
The leg down was a 5 wave impulse, which is what a wave (A) should be.
We might now be in a wave (B) which should be a 3-wave structure.
If we do drop here, then 140 comes into sight for end of wave (C).
My ETH journey started a Fib observation from the bottom
Once that played out, I was looking for the retrace zones to enter long again
Above zones played out and as bounce progressed I saw 152 and 156 as possible targets
Then I saw the top coming, sold, and was looking for re-entry zones:
Got some long scalps in per above plan. But now I am wondering if we go down for another leg
the Trading View is my Nation
the Moderator Tag is my Flag
Wealthy I am not
Needy I hope not
Gifts do help out
🙏 BTC 🙏
send When you Can
send What you Want
gain Gratitude you Will
FWIW I believe https://www.tradingview.com/chart/?symbol=BITFINEX%3AETHBTC has started an uptrend cycle, which should help ETH/USD a lot.