D4rkEnergY is here with a quick update on Etherium. We are taking a look at the 2h ETHUSD Chart.
As you can see we had this crazy bullrun in December to mid January, where we reached our All Time High at almost 1,500 USD. I've made The Elliot Wave count 1-5, and also the Elliot Wave-correction A-B-C. As you can see we had a retracement to Fibonacchi 78,6 % level. This is pretty normal, especially taking into consideration the previously mentioned crazy progress.
We are at this very moment steady climbing slowly forward, but as you can see, we are again starting to lose momentum, and an ascending wedge on the chart AND on the RSI is taking form, which both are bearish signs.
Expect therefore that we will go down.
So the clever person out there, are probably thinking, why is that? D4 has an answer. He has to take you back to the Elliot Waves. If we look closely, we havent really had a descent retracement after our new uptrend after the ABC-correction.
Therefore, we need again to go lower before we can go up again!
OUT D4 loves you all, and appreciate all of you guys out there following him! <3
Trade closed: target reached
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As predicted ETH did fall out it's ascending wedge! D4 thinks, that FA-wise ETH should be more bullish than BTC.
But where Bitcoin keep surprises us, ETH is just blaaah...
We obviously need a bigger retracement, so we finally can go over 1,000 USD again.
brilliant work Dark, as always! So we will need a 50% retrace after the 12345 wave up(in a larger perspective that should be our up wave 1, right?) Cheers!
D4rkEnergY
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@kesmoments, thank you, sir. It is much appreciated.
Bigby
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The legend D4rkEnergY back at ya with a descent analysis of Etherium using Fibonacchi replacements.
Keep up the good twerk!
mi_khan
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BTC will soon follow in correction, as well as LTC. ETH is just leading the way.
Doc-al-Citadel
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D4 Knows The Cryptoverse Is ETH-centric or will be soon
Moreover, it seems pretty clear to me that a Rounding Top pattern is forming:
Please let me know what you think about it. Thanks