Firstly I'm sure "big" is not the proper jargon, but I'm not a trader so everything here is just personal lay opinion.
Ethereum seems to have reached the end of a large 5-wave cycle. What does this mean for ETH and the market as a whole? Certainly not all coins are at the same stage of their cycles. For example LTC is much older and NEO is much younger, so I wouldn't necessarily draw any conclusions regarding the cryptospace, this applies just to ETH.
So if this was wave 1, we must expect a pullback, i.e. wave 2. However, I don't say this will necessarily be a heavy correction and I expect sideways movement to the trendline. It is also very probable we will see another DOUBLE TOP at ca. 1400.
Comment is welcome.
Comment
⋅
I should be careful when I use qualifiers like "very" and "probable". I just say a double top is possible and has historic precedence. Same goes for sideways action.
@brenguyrulez, Hi, originally I saw ETH going below 500 now as this market correction unfolds, it's possible that BTC goes deeper than I thought. The best is not to try and catch the bottom but to wait for confirmation of a reversal. It could be that sub400 comes into play yes.
Doc-al-Citadel
⋅
flippening Q4/ Q1 2019 maybe shh not trading advice tra la la