ETHUSD daily chart is looking a lot like BTCUSD chart from March onwards. If we follow the similar patterns from BTCUSD, I believe we are going to form a double top around $840 mark and then fall back to the $550 mark at the upward trend line from July 2017, if we happen to break that trend line the picture is very gloomy. The wave analysis is subjective so I have two scenarios in my mind.
Scenario #1 is as described above where the bottom on april 5th was end of A wave of correction, and we are currently in subwave c of B going up towards 840ish and from there wave C will go down in three subwaves.
Scenario #2 says the April bottom was end of correction and the May High was end of new 12345 Impulse wave and we are currently in B of upward correction with target around $727 and then move down in C leg with sub 500 targets.
For now indicators tick all the boxes for an upward movement.
PS: I am not a professional trader or financial advisor. This chart is pure speculation and not a financial advice by any means. Please trade at your own risk and Good Luck.
Scenario #1 is as described above where the bottom on april 5th was end of A wave of correction, and we are currently in subwave c of B going up towards 840ish and from there wave C will go down in three subwaves.
Scenario #2 says the April bottom was end of correction and the May High was end of new 12345 Impulse wave and we are currently in B of upward correction with target around $727 and then move down in C leg with sub 500 targets.
For now indicators tick all the boxes for an upward movement.
PS: I am not a professional trader or financial advisor. This chart is pure speculation and not a financial advice by any means. Please trade at your own risk and Good Luck.
Not
Manually Closed positions at 620 & 626.50. Will re-add at the dip.Not
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.