ETH similar to BTC is looking bearish. Broke down and formed a flag. Perfect short setup down to lows of 2018.
Comment
⋅
Well ETH rolled over pretty well. This has much clearer waves compared to the BTC chart and we might doing a larger correction here of the leg down before we get another move down. Need to have either 3 waves or 5 waves when the market moves. Expect atleast a retest of the lows or slightly new lows to be made.
Comment
⋅
ETH is looking interesting. I wouldn't be taking shorts here anymore. More interested to buy or take long positions on the next dip. 5 waves look complete. The current structure is looking like an ending diagonal. It can make one more push up then breakdown for a larger correction before taking off.
Comment
⋅
Alternatively it can be the B wave of an expanding or running flat. In which case, expect something like this -
Comment
⋅
Easy BTFD trade here and exactly why I closed short trades on ETH. The X wave was an expanding flat, which completed its C wave now. Expect another 3 wave move down for retest of the lows atleast.
Thanks for your idea mate, this is what I think is going on seeing that a bigger ABC formed between 12-21 september so im expecting a lower low to come in:
kryptowavetrader
⋅
@HodlCrypot, I dont see those levels happening right now. But in the future very likely
HodlCrypot
⋅
@kryptowavetrader, bitfinex 7779 usd tops, coinbase 6810 usd tops, bitstamp 6763 usd tops, now bitfinex at 6970 coinbase at 6433 bitstamp at 6449 usd... what happened and what is going on?
kryptowavetrader
⋅
@HodlCrypot, Some tether fud/news going around. There is big diference between fiat USD and USDT exchanges. Most likely people getting scared and selling USDT into btc. Probably caused the rise in BTC. Or it could be a strategy being used exchanges to pump the price into their short positions. No ones for sure.
WealthHustler
⋅
thanks for the update!
WealthHustler
⋅
@kryptowavetrader slightly new lows means above 167? I am still waiting for 179-180 levels target :D
kryptowavetrader
⋅
@WealthHustler, 189 i think we got. but yeah i think eth will visit yearly lows once more retest atleast.
WealthHustler
⋅
@kryptowavetrader, I hope it does - have been waiting too long now hahah
jordanmorin13
⋅
I can almost guarantee its not happening before seeing 400+ usd soon but keep dreaming
kryptowavetrader
⋅
@jordanmorin13, my dreams become reality thats how I make money while u talk about 400+ XD