Coin_Analyst
Short

ETHUSD bears in charge: Short tf (4hr) analysis

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
For those interested in my earlier post concerning EthereumUSD in a bear channel and projections, the post can be found here:


The chart above shows an Elliott wave analysis for EthereumUSD. Price close of $672.10 on the 4hr tf has been identified as a possible Minute wave ((i)) position. It is possible that minute wave ((ii)) is not yet complete which is why I have put a question mark next to it. The implication of the above is that once minute wave ((ii)) is complete, ETHUSD             should resume selling off.

Target for the sell off could be a projection of minute wave (( iii             )) = 161.8% minute wave ((i)). However I have not calculated this because it is possible that minute wave ((ii)) is not yet complete.

POI = Point of invalidation at which the analysis requires revision
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