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JibasJr
Jun 23, 2021 3:38 AM

ETHUSD - Detailed Elliot wave analysis Long

Ethereum / U.S. dollarBitstamp

Description

Take 5 minutes to understand this chart.
We are very likely in a weekly early stage 4th wave in the context of a monthly bull cycle.
On the left (4h chart) you can compare the lesser (daily) degree impulse's constituing 4th wave and a projection of what this bigger also 4th wave correction would look like if it were a simple zig zag.
On the right (D) it's shown a clear RSI buy signal also with MACD divergence. Fib time projections would suggest that we keep correcting AT LEAST until 20/10/2021.
The correction is almost always more complex than what one expects - however - with a good perspective and some helpfull indicators like MACD and RSI one can extrapolate local pivots that can point to the ending and beggining of new waves.
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