Anarchomania

PROBABLY TOPPING SOON FOLLOWED BY SIGNIFICANT CORRECTION.

KRAKEN:ETHUSD   ETHUSD
259 19 4
The current trend seems to be forming an ending diagonal as wave 5 of 5 (V of one higher degree). If this is indeed the case, we should expect a correction, possibly quite deep. Targets to the downside would be 8.00, 6.50, 5.10, and possibly all the way to around 3.40. A subsequent bullish rally from any of these levels could indicate the completion of wave 2 of a higher degree of the trend.

Next higher degree of trend: https://www.tradingview.com/chart/8NmfP6Ri/
Comment: Move to alternate wave count (flat correction - short)
I can't see anything in this chart. Explain pls.
Reply
The wave count proved incorrect.
Reply
looks like the 4th wave completed, but I still don't know if this 5th wave is going to materialize...
Reply
Anarchomania PRO Cryptolicious
See alternate count -
Flat correction?





Reply
Cryptolicious Anarchomania
That's what I thought orginally, actually. But I was left scratching my head for a while because the B wave went really high...
Reply
Anarchomania PRO Cryptolicious
Normal in a flat...people sometimes call them 'double tops', although that's a loose term since a double top can be the result of an ending diagonal, a flat, or simply a truncated 5th (the latter normally following an extended 3rd and deep 4th).
Reply
Anarchomania PRO Anarchomania
But generally it's safer to assume a diagonal at first - since you'd be looking to get short at some point and assuming a flat first could get you short too soon and possibly stopped out...
Reply
looks like the 4th wave completed, but I still don't know if this 5th wave is going to materialize...
Reply
looks like the 4th wave completed, but I still don't know if this 5th wave is going to materialize...
Reply
How high would wave 5 go?
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out