ETH/USD - ABC Complete - A New Leg Down - Head and Shoulders Top
Hi, This is what I see is happening. Im not too sure this is an impulsive 5 Wave count, rather a corrective 3 Wave count (ABC).
part of the reason is because in the Green C wave we have already seen 2 impulses. Yet both of them are overlapping which should not usually happen.
Also, if this was wave 3 rather than wave C (GREEN) then we would have shot up more already and covered more ground in my opinion. Usually wave 3 is characterized as the strongest/most violent wave out of the 5. This seems to just not be the case here. IF we are to consider GREEN wave A as wave 1 and GREEN wave C as wave 3, wave 1 looks WAY more impressive as it gained equal price in far less time.... wave 1 gained $80 in 20 days while wave 3 gained $88 (so far) in 61 days. These just are not usually character traits of an impulse in my opinion.
In fact, I see a new bear market low on BTC and ETH.
I see a possible H&S top that can lead to the new low and thats about it for now kids.
make sure to share this, like this, comment if you wanna be in my free private channel and also comment if you have any questions.
part of the reason is because in the Green C wave we have already seen 2 impulses. Yet both of them are overlapping which should not usually happen.
Also, if this was wave 3 rather than wave C (GREEN) then we would have shot up more already and covered more ground in my opinion. Usually wave 3 is characterized as the strongest/most violent wave out of the 5. This seems to just not be the case here. IF we are to consider GREEN wave A as wave 1 and GREEN wave C as wave 3, wave 1 looks WAY more impressive as it gained equal price in far less time.... wave 1 gained $80 in 20 days while wave 3 gained $88 (so far) in 61 days. These just are not usually character traits of an impulse in my opinion.
In fact, I see a new bear market low on BTC and ETH.
I see a possible H&S top that can lead to the new low and thats about it for now kids.
make sure to share this, like this, comment if you wanna be in my free private channel and also comment if you have any questions.
Comment:
looking good!
