The first target is my favorite in this case! Even HS will not work(More often does not works than it works) but finally result can be the same.
I am not sure it has sense because at Matic only a few big players pulling the trigger but there are some probability in this picture.
I am not a TRX lover but who wants it, now is a chance!
Lets's see our last totally contra move will happen again or this time our direction is right! Contra scenario :-( but also started from here :-)
Target fibo 61.8 is reached! But the lower trend line of the channel is also nearby here! We have now a few high probability scenarios! -Bullish triangle -Bullish flag in channel -Also looks like the fifth wave to down I still have the feeling this downtrend is still not enough strong to hit our target around 6300-6400 in one single move so higher upside...
In this case, the question is red or green?
In the short term, this scenario can easily happen but the sentiment is more bearish than bullish !
All 3 scenarios are logical but mostly depending on BTC movement so watch BTC before you trade ETH :-)
Tricky and more tricky! BTCUSDT market is loving the wedges and triangles so if one more happens that should be real not a problem!
Sure it is just one of the possibilities.
Price is again inside of the wedge and our downside target is more clear if the price will stay inside of wedge!
elliottwave-forecast.com This situation is a nice sample!
In this case we have two targets for sure!
Price is again inside of the wedge (the most important pattern in last few month)!
And yes it was going deeper So If BTC will hit a new low than ETH will hit an exponential new low!
Price is still in the wedge and the upper wedge trend line is around 7700, also there is a 100% fibo extension so if the price wants to hit our targeted new low around 6300-6400 area than this will be the turning point! If the price broke this level and going out of the wedge than that is a very good further bullish sign! Red or green?
Because the price touch the 7374 levels, the picture is changed a little! We have a new entry-level around 7150-160 area in this case!