Hello and a warm welcome to this analysis on ETHUSDT
Let's 1st have a look at what it has done from MAY 2021 onwards
From MAY 2021 till July 2021 it completed an abcde corrective triangle and in the process made a Bullish Harmonic Deep Crab Pattern.
This was followed by a strong reversal till early NOVEMBER where it completed a Bearish Harmonic AB=CD pattern.
From there it started a sharp correction and today it made a Bullish Harmonic Reciprocal AB=CD pattern giving some relief to those long.
Now lets try to see the outlook going forward
It appears that 3300 will be tested again and then a small bounce back to 4200-4300 from where another round of selling will come taking it to 2500 over the next few weeks.
Let's 1st have a look at what it has done from MAY 2021 onwards
From MAY 2021 till July 2021 it completed an abcde corrective triangle and in the process made a Bullish Harmonic Deep Crab Pattern.
This was followed by a strong reversal till early NOVEMBER where it completed a Bearish Harmonic AB=CD pattern.
From there it started a sharp correction and today it made a Bullish Harmonic Reciprocal AB=CD pattern giving some relief to those long.
Now lets try to see the outlook going forward
It appears that 3300 will be tested again and then a small bounce back to 4200-4300 from where another round of selling will come taking it to 2500 over the next few weeks.
Trade closed: target reached
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