the daily chart of this market shows that it will experience with a high probability a downtrend in the coming days but also we must be vigilant of the change of direction towards the opposite
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So my previous idea was invalidated, sad to say i didn't add on to my existing longs... but importantly i didn't lose any capital!
My alternative count is now in play, i see this as Wave B of Wave 2 (Wave 1 start on March lows). I am now expecting a Wave C to form. Before shorting i will be waiting for confirmation on lower time frames; shorting here is risky for...
This last 6 weeks of trading ETH or BTC has been pretty frustrating, lots of shifting bias and no clear pictures. BTC and ETH are very closely correlated, so for the most part the charts are similar, however due to DEFI i do expect ETH to outperform BTC.
My idea is that ETH is currently ending it's B wave within Wave 2 of a larger degree impulse since March...
Seems like the entire crypto market is in heavy correlation. This is ETHEREUM INDEX! Find similiar structure on ETHUSD chart and trade accordingly.
Same structures on BTCUSD, XRPUSD and ETHUSD. So all this applies to BTC as well.
At any case, we have enough DM qualifiers to define this as VALID and GOOD breakdown.
Max where price can go it is descending...
Last few weeks have seen all crypto's bleeding.
Going into the back end of march we can still see this uncertainty. The price movements in the markets arise from the millions of people who interact with it each day. The human component of the market prevail, emotions and instincts interchangeably, cause volatility.
1. The 11/03 saw a decline of -49%. Almost...