ETH Corrective Structure: Target 1000 or 770
After our dump to the high 900s we made a clear 5 wave impulse to 1440. Since then we have been in a corrective structure. This bounce from the end of the Descending Broadening Wedge is not. impulse, and is currently consolidating beneath major resistance at 1300.
WHAT TO WATCH:
If we lose 1200, we are going to 1000 to test the channel, intraday demand, and the 0.236 retracement of the current range (not shown).
If we lose 1000, there is no HTF demand until 750-800 as ETH pumped straight from that level to 1200 without stopping.
Bid zone is 1000. Beautiful long opp is 750-800
WHAT TO WATCH:
If we lose 1200, we are going to 1000 to test the channel, intraday demand, and the 0.236 retracement of the current range (not shown).
If we lose 1000, there is no HTF demand until 750-800 as ETH pumped straight from that level to 1200 without stopping.
Bid zone is 1000. Beautiful long opp is 750-800
Feragatname
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