September was a perfect wave A down while October was wave B up. I projected the original top for Friday but we were still shy of 460. Today's open got us there. Wave B quickly retraced 100% of wave A without its internal 5 wave pattern so I set the next stop around 460.58 which was the Fib 123.6% extension. Additional wave analysis of wave C's internal 5 wave...
As I'm still obsessed with Elliott Waves I find we're in a similar position to BTC - it looks as though we are about to enter the corrective wave.
This goes against all popular price estimates for ETH I have seen shared recently. And definitely against the popular trend.
I'm currently in a short trade ETH target £3800.
Let's see if this plays out!
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Price in strong supply zone that hasn't been tested since October 2015. Due for correction on weekly and bullish strength appears to be weakening at weekly/daily resistance.
Be sure to follow the entry criteria rules for your strategy and keep this on your watch list!