As per previous chart, ETHUSD follows the path. Count has been changed to reflect that RSI divergence has been erased so that we cannot see the cycle from 983.31 as a motive 5 waves anymore for now.
I remind here that I am bullish crypto because: 1. conviction but that does make a case for it, 2. bullish in daily and 3. too late to be bearish ... (remember that curve with 5 sentiments waves, we do not want to be buying high and selling low, right?)
So, this is when catching a falling knife come into play!
In daily, it is bullish and the first hop in was at 583.65, then 428.75. The bus will however stop at 100.00 (can always go/stay lower forever so we have to stop somewhere/sometime and 161.8% of lower degree is a good level to do that, see below).
Next level I will watch is 293.70-223.61 stop 110.16 (cf above).
Why? Come and check the 1h chart on the patreon and Discord server.
So, are you the "catching falling knife" or "I better stay away" ?
I remind here that I am bullish crypto because: 1. conviction but that does make a case for it, 2. bullish in daily and 3. too late to be bearish ... (remember that curve with 5 sentiments waves, we do not want to be buying high and selling low, right?)
So, this is when catching a falling knife come into play!
In daily, it is bullish and the first hop in was at 583.65, then 428.75. The bus will however stop at 100.00 (can always go/stay lower forever so we have to stop somewhere/sometime and 161.8% of lower degree is a good level to do that, see below).
Next level I will watch is 293.70-223.61 stop 110.16 (cf above).
Why? Come and check the 1h chart on the patreon and Discord server.
So, are you the "catching falling knife" or "I better stay away" ?
Comment:
follows the path as proposed to patrons in 1h chart (that follows the 4h chart here as well).
Comment:
RSI trend line broken meaning end of a cycle from 983.31.
I close the idea here as I highlighted the area where a bounce happened.
Will refer to other ideas in coming shared with patrons.
I close the idea here as I highlighted the area where a bounce happened.
Will refer to other ideas in coming shared with patrons.
