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
please subscribe to receive new analyzes
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...