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ETH head & shoulders (correction wave)#ETHUSD $ETH broke down the parallel channel and hit 2 targets of my last analysis. there are 2 scenarios that shows dump of ETH will continue to around $2500. 1. the head and shoulders pattern, that broken from the neck line, so price will fall more as the measure of the head height, which is around $2500. 2. the fibonacci levels of swing high, shows the correction wave can continue to 0.618 level , which is the same as a support zone, and it is around $2500.
INDEX:ETHUSDShort
by parissap
5
Elliott Wave Analysis: Crypto Market Is Looking For Another DropHello traders and investors! Crypto market made sharp and impulsive decline from the highs after a completed 5th wave as we have been warning about in the last couple of months. So, we ideally see it as part of the first leg "a"/"i", which means that current rally should be as part of an (a)-(b)-(c) correction in wave "b"/"ii" that can find the resistance here around 61,8% - 78,6% Fibonacci retracement and from where we can expect a continuation lower within wave "c" or maybe even wave "iii". Be humble and trade smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
CRYPTOCAP:TOTALShort
by ew-forecast
4