smb2222

ETH/USD Possible Finish of ABC Correction

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
ETH along with tons of other Alt coins and tokens are obviously displaying these types of corrections now. I was hoping they would have held the Triangle consolidation patterns but those got creamed.

These charts are textbook Elliott Wave . The only thing that concerns me is the speed of these declines. The fact that tons of Alts are nearing their Long Term trend-lines without BTC going to new lows, makes me cautious because if BTC collapses and heads to the $3000-5000 range, I don't know if these trend-lines will hold. This is why I will be laddering in and not putting all cash to work just at one level.

This bear market is not for the inexperienced. But I strongly believe that we are just entering the early adopter phase, we should have a great next few years. Look at the logarithmic chart i posted the other day and keep the big picture in mind

By the way. I posted my stance as neutral since we are so close to the trend-lines on many of these projects, so they may bounce like a son of a bitch when they do hit these levels.
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