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I thought I would post this after doing a shorter-term post that seems to show bullish signs . E has dropped 88% in 2018. People were waiting for ETH to uncouple from BTC 0.18% , and it did - not in the way most expected though - it significantly under-performed vs BTC 0.18% in 2018. Where BTC 0.18% made a descending triangle , ETH kept making lower lows throughout 2018. It has to end at some point right?
Just briefly, If my larger-degree count is correct, we seem to have finished the larger corrections and are now in either wave C of a ABC correction upwards OR early in wave 5 of a new impulse wave up. It is a little muted but I expect this to pick up momentum.
I thought I would combine this with the 1-2-3 method of confirming the end of a bear market that I have previously posted in relation to BTC;
The 1, 2, 3 method is drawn from Thomas Bulkowski's 'Trading Classic Chart Patterns' - in which he is himself drawing on Victor Sperandeo's 1991 book 'Trader Vic - Methods of a Wall Street Master.' :
First draw a line from the highest high to the lowest low in a way that doesn't cut through price until after the lowest low was reached.
1. Price must close above the trend-line (done),
2. Price must stop making lower lows (seemingly) and also re-test the low (not yet),
3. Price should then climb above the previous minor high (B) - this is a bit hard as there hasn't been a clear swing high since $838 but I would accept above $303 (peak of wave 4 of wave C down)
Protect those funds and happy trading / buying.
I thought I would post this after doing a shorter-term post that seems to show bullish signs . E has dropped 88% in 2018. People were waiting for ETH to uncouple from BTC 0.18% , and it did - not in the way most expected though - it significantly under-performed vs BTC 0.18% in 2018. Where BTC 0.18% made a descending triangle , ETH kept making lower lows throughout 2018. It has to end at some point right?
Just briefly, If my larger-degree count is correct, we seem to have finished the larger corrections and are now in either wave C of a ABC correction upwards OR early in wave 5 of a new impulse wave up. It is a little muted but I expect this to pick up momentum.
I thought I would combine this with the 1-2-3 method of confirming the end of a bear market that I have previously posted in relation to BTC;
The 1, 2, 3 method is drawn from Thomas Bulkowski's 'Trading Classic Chart Patterns' - in which he is himself drawing on Victor Sperandeo's 1991 book 'Trader Vic - Methods of a Wall Street Master.' :
First draw a line from the highest high to the lowest low in a way that doesn't cut through price until after the lowest low was reached.
1. Price must close above the trend-line (done),
2. Price must stop making lower lows (seemingly) and also re-test the low (not yet),
3. Price should then climb above the previous minor high (B) - this is a bit hard as there hasn't been a clear swing high since $838 but I would accept above $303 (peak of wave 4 of wave C down)
Protect those funds and happy trading / buying.
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