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bshgeo
Feb 2, 2021 10:23 AM

Elliott Wave Ethereum 2.2.2021 Long

Ethereum / USD CoinBinance

Description

Notice the divergence on this Daily chart as shown by the red trendlines. This suggests a sharp trend reversal is forthcoming which also supports Elliott count as a C corrective wave is expected in the count following this strong B Wave up. Look for favorable entry points in the $1000 - 1100 range which should allow traders to establish a profitable entry point for the next leg up as this coming C wave plays out over the next few days. Be patient and wait on price decline and the C wave to fully count out before entering a new order at the entry price level as suggested above. Protest gains made in this B wave rally now by setting stops or take profit limit orders. Watch and enter a new position as this coming C wave bottoms in a few days. Good trading.
Comments
abolfazzzzl
U mean it will be higher than recent price??
bshgeo
@abolfazzzzl, I expect we will reach a new all time high yes upon completion of this ABC structure. C is starting now give it a day or two to complete and look for new entry as I said at the $1050 ish range. Yes I see it moving to $55,000 + and likely into the 60's.
abolfazzzzl
@bshgeo, do you suggest buying at this time?
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