ETHUSDT : first bearish impulse of 5 ?
HI guys,
so to follow the past big ABC hypothesis. we know that C of ABC wave are made of 5 impulsives waves. we have 1 big impulse down and a 3 wavish bounce back to near 0.68 of this first wave. almost a perfect ratio for a wave 2. the bounce back (wave 2 of ABC)has attribute of a minor ABC .
This should look like this :
If this resistance break bulls will have break this bearish count :
but daily is still bearish so overall i place the bearish scenario first :
so to follow the past big ABC hypothesis. we know that C of ABC wave are made of 5 impulsives waves. we have 1 big impulse down and a 3 wavish bounce back to near 0.68 of this first wave. almost a perfect ratio for a wave 2. the bounce back (wave 2 of ABC)has attribute of a minor ABC .
This should look like this :
If this resistance break bulls will have break this bearish count :
but daily is still bearish so overall i place the bearish scenario first :
Comment:
Bull testing upper resistance may be invalidating bearish trend.
spike of volume at the potential revrsal zone (wave 2 of wave C)