Thanks for viewing. Might this be the end of the bear market???? Time will tell.
I thought I would post this before zooming to a longer time frame to show the multiple zig-zag correction since all time high. Since then it has dropped 88% in 2018. People were waiting for ETH to uncouple from BTC, and it did - not in the way most expected though - it significantly underperformed vs BTC in 2018. Where BTC made a descending triangle, ETH kept making lower lows throughout 2018. It has to end at some point right?
Just briefly, If my larger-degree count is correct (will post shortly), we seem to have finished the larger corrections and are now in wave C of a ABC correction upwards. It is a little muted but I expect this to pick up momentum.
- Wave B met a 1:1 extension of it's zig-zag, since then we have made a lower high BUT more importantly a higher low,
- If my wave (c) count is correct, there are no wave 4 incursions into wave 1 territory - it came very close but wave 1 held strong with multiple rejections of the bears,
- In wave (c) sub-wave 3 was heavily extended, so I have put my target at a 1.618 extension of waves 1 and 3,
Protect those funds and happy trading / buying.
I thought I would post this before zooming to a longer time frame to show the multiple zig-zag correction since all time high. Since then it has dropped 88% in 2018. People were waiting for ETH to uncouple from BTC, and it did - not in the way most expected though - it significantly underperformed vs BTC in 2018. Where BTC made a descending triangle, ETH kept making lower lows throughout 2018. It has to end at some point right?
Just briefly, If my larger-degree count is correct (will post shortly), we seem to have finished the larger corrections and are now in wave C of a ABC correction upwards. It is a little muted but I expect this to pick up momentum.
- Wave B met a 1:1 extension of it's zig-zag, since then we have made a lower high BUT more importantly a higher low,
- If my wave (c) count is correct, there are no wave 4 incursions into wave 1 territory - it came very close but wave 1 held strong with multiple rejections of the bears,
- In wave (c) sub-wave 3 was heavily extended, so I have put my target at a 1.618 extension of waves 1 and 3,
Protect those funds and happy trading / buying.
Comment:
Trade closed: stop reached