ETH crashed 34%! Wow... but this correction IS GOOD. See my latest YouTube video on ETH.
We re-tested the old ATH level as support! If this holds then we're set-up for ETH to go much higher.
Questions is... did you buy? If not, there may be reasons to buy in the old ATH area as highlighted by the chart around $1,360... if we revisit it again.
Why buy?
1. We are at a major support level (old ATH + Fib level)
2. We corrected over 30%
3. We are in a bullish market!
4. We have bullish divergence on lower timeframes
5. We bounced on this level confirming it as support
6. We completed a 5 Eliot wave down
I find it very unlikely for ETH to drop below $1,360.
Once we clear this pattern and correction ends, ETH is ready to go much higher. This correction is good for price long term.
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my TA video on ETH!
We re-tested the old ATH level as support! If this holds then we're set-up for ETH to go much higher.
Questions is... did you buy? If not, there may be reasons to buy in the old ATH area as highlighted by the chart around $1,360... if we revisit it again.
Why buy?
1. We are at a major support level (old ATH + Fib level)
2. We corrected over 30%
3. We are in a bullish market!
4. We have bullish divergence on lower timeframes
5. We bounced on this level confirming it as support
6. We completed a 5 Eliot wave down
I find it very unlikely for ETH to drop below $1,360.
Once we clear this pattern and correction ends, ETH is ready to go much higher. This correction is good for price long term.
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my TA video on ETH!
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