Hi everyone Ethereum just had a very nice price action since July.in my last publish on ETH I mentioned if the price breaks 250 level upward, it turns to supper bullish trend. ..............so what now? On 2 hours chart I drew E.waves that seems work well. as you can see on the chart the wave3 seems done so the price needs correction to form wave 4 and 5.as far as the main 5 waves on uptrend is done(my opinion) and it's just an extended wave on main wave 5th so we may not finish wave 5 on new extended waves and the price declines more. I know it's complicated for those who not familiar with Elliot waves so I make it simple. as you can see on daily chart , MACD and Rate of change indicators starting to show some weakness to keep the price up. if the MACD line(blue) turns down it confirms bearish divergence for more declining. ROC shows the same divergent sign. So ... to me we may have another chance to move upward more. but lets see what would happen in coming days.
Enjoy the market
Comment
⋅
the price will move in ranged area for awhile
Comment
⋅
for short term
Comment
⋅
I hope you keep enjoying the market
Trade closed: target reached
⋅
be cautious , could move upward too fast enjoy it (: