ETHUSD - Market overview...

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
ETHUSD is still developing corrective 2nd wave structure...We have 2 potential H&S and iH&S pattern formations.

Bullish iH&S (red) with right shoulder around 750-700$ and bearish one (blue) with potential right shoulder ~880$.

Maximum target profit for bearish H&S goes exactly to the recent low around 570$. In my opinion technically we should see at least retest of recent lows in coming days/weeks. I see potential extension of this corrective structure toward 420-440$ where goes the alltime trendline and 0.706retr of whole upward swing.

Recent upward movement was clear 3-3-5 ( ABC ) correction marked as X wave. With that in mind we should develop Y wave of WXY correction, and that would end 2nd wave corrective structure.

Trade responsibly.

Thankyou for you insight. My count is as yours but I hadn't considered an extended WXY. I was only expecting this to be wave 2 of a new impulse cycle.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out