Hi guys,
I noticed a bearish diametric forming on ETHUSD right now on the daily. It's looking like we probably are in an X-Wave currently and will have one final leg up for Wave-G before the bearish diametric is complete and we move on into another ABC correction and much more downwards motion. Wave-G can have a massive range on it price wise, anywhere likely from it's current value to ~$1000+ range - I have chosen around the $900 mark as this is the 61.8% fib of the first overall ABC correction (using TV fibs, which get horribly stretched on log scale... use your discretion) and equal to the time of the ABC correction (I am not an expert on X-waves, and so the timing may be way off - I do believe the price is a likely possibility, another being 1.618 price of the ABC). I have tentatively placed the end of Wave-2 at 1.618 of Wave-1's time and approximately the 50% fib of Wave-1, but the 38.2% would be ideal - time will tell whether we complete the ABC and become bullish, or spin into another X-wave and subsequent ABC.
Here is a zoom in of the bearish diametric.
Let me know what you think - as it is right now, we will be in correction mode until likely at least the Beginning of September 2021, when we can begin Wave-3.
I noticed a bearish diametric forming on ETHUSD right now on the daily. It's looking like we probably are in an X-Wave currently and will have one final leg up for Wave-G before the bearish diametric is complete and we move on into another ABC correction and much more downwards motion. Wave-G can have a massive range on it price wise, anywhere likely from it's current value to ~$1000+ range - I have chosen around the $900 mark as this is the 61.8% fib of the first overall ABC correction (using TV fibs, which get horribly stretched on log scale... use your discretion) and equal to the time of the ABC correction (I am not an expert on X-waves, and so the timing may be way off - I do believe the price is a likely possibility, another being 1.618 price of the ABC). I have tentatively placed the end of Wave-2 at 1.618 of Wave-1's time and approximately the 50% fib of Wave-1, but the 38.2% would be ideal - time will tell whether we complete the ABC and become bullish, or spin into another X-wave and subsequent ABC.
Here is a zoom in of the bearish diametric.
Let me know what you think - as it is right now, we will be in correction mode until likely at least the Beginning of September 2021, when we can begin Wave-3.
Comment:
Alright, Wave-F should actually now be finished (likely). Meaning we are now in Wave-G, with a potential of around $750-$1000 dollars by around the end of the year (maximum that price, doesn't need to, but by the end of the year Wave-G should conclude, wherever it may end up by then). Following that, I expect sub $100 will be seen again.
Comment:
Haven't been trading for over a month, and just noticed how not-timely that update was. Wave-F ended ages ago, around end of August, heh.
Comment:
Still watching this idea, can still be valid, with a very long F-Wave. Really not holding my breath on a target like that though.
Comment:
Actually starting to think that the F-wave has gone on too long.