Exactly my thoughts. Bottom at around 150 USD would make triple daily RSI divergence.
WealthHustler
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just hit 225, do you think it can come back to $180? atleast? thanks in advance
WealthHustler
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@WealthHustler, because I sold at 180 for arbitrage, and this madness just shooted up side right after it
biffbifford
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@WealthHustler, The shorts got caught and are covering. Once the covering is over it will fall again. The trend is still bearish, nonetheless, we could go as high as 267 before ETH runs out of gas. Look how bearish the RSI indicator is. I think ETH was oversold and needed a bounce before the next leg down to continue confirming the bearish trend. Good luck.
WealthHustler
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@biffbifford, thanks friend for your advice & analysis, I appreciate it a ton :)
FilipeMiguel
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@biffbifford, I agree but wave iv can't overlap wave i (260). So expect retacement near the 50% fibo (+-240-250). Another options this is the beginning of a triangle and ETH will stay above the 200 some days.
FilipeMiguel
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@WealthHustler, maybe 195-190. If wave A finished at 224, 195 is 50% fibo retracement. Whith this strength I do not believe that it goes down much more than the 50% fibo retracement.