ETH first indications of last wave (bottom soon)
Hi everyone,
We are hitting a series of 4's making me believe that we are nearing a bottom provided that we make a 'soft landing' in a sort of diagonal style instead of accelereting once more.
If this is the case and if we are in a last wave down to complete our structure we need 5 smaller waves down.
The minimum target is 1370 USD per Ethereum ranging untill 1264 USD. I believe this corrective structure will complete around 1350 USD. This is where I close my final shorts just to be safe.
For people who have not entered a short at 1526 USD targeting 1375 USD is a nice trade setup with a stop loss above the previous blue iv at around 1544 USD. Keep the larger corrective structure in mind if you are entering this trade.
Stay stafe and trade carefully since the 5th wave can allways accelerate and we can still get an extension afterwards.
As Always this is no financial advice.
We are hitting a series of 4's making me believe that we are nearing a bottom provided that we make a 'soft landing' in a sort of diagonal style instead of accelereting once more.
If this is the case and if we are in a last wave down to complete our structure we need 5 smaller waves down.
The minimum target is 1370 USD per Ethereum ranging untill 1264 USD. I believe this corrective structure will complete around 1350 USD. This is where I close my final shorts just to be safe.
For people who have not entered a short at 1526 USD targeting 1375 USD is a nice trade setup with a stop loss above the previous blue iv at around 1544 USD. Keep the larger corrective structure in mind if you are entering this trade.
Stay stafe and trade carefully since the 5th wave can allways accelerate and we can still get an extension afterwards.
As Always this is no financial advice.
Trade closed: target reached:
Target reached, I closed all my shorts and we didn't make a diagonal ending and accelerated at the end, meaning that we will go a bit lower, bounce and then probably go one more wave down, but that depends on the circumstances and the count on the lower level.