P_S_trade

ETH. After a $ 75 test, I expect a rebound of $ 140-150

BITFINEX:ETHUSD   Ethereum
After November 14, sellers were able to break through the blue trend line, the price as in the BTC began to fall hesitantly. Did not keep the price level of $ 176, from whom I predicted a rebound in the previous idea. On November 22, sellers accelerated their downfall by breaking the trend line.
At the 4th timeframe it is seen that the price starts to slow down and the low cease to be deep:
However, the attempt to grow from November 28th from $ 100 to $ 130 was much more energetic and reminiscent of an attempt to turn. The current growth attempt resembles a rebound:
At 110-120 $ there is a strong liquid zone and buyers are not able to break through this liquid zone with those volumes that are now on the market:
Buyers were able to only reward 0.618 from the previous wave of the fall, which began on November 28:
Therefore, I'm not sure that buyers will be able to hold $ 84.
On wave analysis, I expected a good rebound from $ 84, since at this price wave A = C (at wave I):
And the local rebout occurred after the test of this level, but this is not enough for me.
If you look closely, even from the level of 0.786 (price 176 $) was a good rebound by 40%. But at the moment, buyers can only slow down the price, because there are too many sellers on the market.
So there are currently two scenarios:
1) Sellers try $ 84 and I expect a probable rebound from $ 75
2) Buyers will hold $ 84 and rebound will begin earlier.
By the nature of the fall, I will shout whether there is a force from customers to start a reversal of $ 75. If buyers are weak then the next stop is the price zone of $ 50-55.

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