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Long

ETHUSD bounced from support, potential for a further rise!

BITFINEX:ETHUSD   Ethereum / U.S. Dollar

ETHUSD bounced off its support at 189.21 where it could potentially rise further to 371.18.
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I truly think majority of the space has this last seven month rally all wrong. My belief is that it was just one large B wave. I believe the bear market is still intact
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Your 2nd support is really our fourth. It’s not that easy. We don’t just bounce off on $189 and go straight to 371 doesn’t work that way . We just had five waves down on the weekly . Best case is we go to 265 which is the 50% retracement from our swing hiagh at 362 to our swing low. This is including our latest dump down to 172. Right now we are range down our next support is 156 not 130. If 172 doesn’t hold, then down to $156. If that becomes our bound if that becomes our bounce Then 256 becomes are 50% retracement which will only be a b wave. Then we will have further losses. Maybe just maybe we go to the 618 .
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