POAETH - 15m - Possible formation of Cypher pattern
Position to go long is 0.00101200 eth
With temporary downtrend, it is expected to rise up to 0.00120200 eth which is 127 extension and completion of cypher pattern.
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POAETH is continuously demonstrating double top/bottom and then inversion of last leg reaches 1618 extention
This pair demonstrated this two time in past.
Now looking for continuation of this trend.
If this follows (30% chance), a temporary drop can be observed which will provide a buying opportunity at 0.00107 eth.
With an expected return back to 1618 inversion...
Wave 3 complete - looks like Corrective wave 4 is hitting some kind of bottom. Hasn't moved much at this range for some time.
There was a dip below the Wave 1 top, but the Daily candlestick has kept above Wave 1 Top so far pretty consistently. Appears to be a strong support line.
Wave 1 moved more than wave 3 - wave three 1 to 1 ratio for wave 5 would put an end...
Looks like a wave 3 of wave 3 is finishing up on POAETH, retracement just beginning.
Wave 1 of 3 retraced around 50%. Wave 3 already significantly longer than wave 1.
Retracement to the 0.00101 area seems likely, give or take 0.00004.
When it bounces from there, it could go anywhere from 0.00115 to 0.00125, and then likely retrace pretty hard.