ETHUSD short term bear scenario: Ethereum retrace not done yet?

COINBASE:ETHUSD   Ethereum / U.S. Dollar
Quick plot to lay out the possible path for one more dip that might be about to start
I am actually BULLISH 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
Jan 03
Comment: Of note, in the live chart on top, there is a very faint zone. I have made it more visible here clearly we are stuck between these energy bands. Breakout to either side could be powerful, especially if it bounces around in there for a long time (several hours)
Jan 03
Comment: Bulls are strong, broke up through the first resistance zone with some gusto. Now comes the blue fib of this entire leg up from 144.46
Jan 04
Comment: It definitely noticed that 4.618 but bulls still look strong
Jan 04
Comment: Interesting, so it may be this green fib that is working the price right now looks like a perfect impulse within, perhaps making a bigger wave 3 for now.
Jan 04
Comment: Odds of the planned ABC have decreased dramatically. and ofc if we get a new local high then maybe I was being overly pessimistic. not out of the woods quite yet, and we EU/UK waking up soon. That part of the world often sells in their morning. So the price AND time are at a critical point here.
Jan 04
Comment: Bulls looking to flip previous resistance into support
Jan 04
Comment: Here are the EU/UK morning bears. Lets see if bottom of this zone turns into resistance again
Jan 04
Comment: here we are, last support before 145 imo
Jan 04
Comment: This leg pierced the 1.618 on micro TF, so I am suspicous of this little bounce
Jan 04
Comment: 1.6198 confirmed as relevant. But was pierced previously, so still suspicious.
Jan 04
Comment: sure enough, the 1.618 gave up. Now to watch the 2.618
the Golden Ratio is my Religion
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


Have to watch out for those shake outs. This market is savage :D
+1 Reply
Sir, Your job is excellent. But I couldn't understand how do you set different kind of Fibonacci tool. Please explain if its possible for you...the details about Fibonacci setting & how do you find out retrace & buying zone in green color.
@xsoffer, Hello. I use the Fibonacci tool quite differently than most people. Basically, I find a clear and strong move, and put the 1 and 0 of the 'Fib Retracement' tool around that move. Then I go into the Fib's Settings, and add various lines. I look for ''Extensions'' or ''Multiples'' of the first move. Here is a recently posted Idea that shows two different Fib Series interacting Also, I have an older Idea with a TON of examples (scroll down on that one to see the numerous examples).
xsoffer EuroMotif
@EuroMotif, Thanks a lot dear. Last time I have trying to copy you but didn't find out the mystery of Fibonacci. Here is the example .
Dude, using 5 and 1 minute time frames is no way to go through life.
Nice analysis.
FWIW I believe has started an uptrend cycle, which should help ETH/USD a lot.
excellent analysis
Excellent TA
U were right

I put position to get out but didn’t fill

We went down through it all

It’s also following big papa. Step by step
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out