ETHEREUM LOOKS BEARISH HERE ELLIOT WAVE THEORY CYCLE

30 Tem 2023

Hello Traders,

Ethereum looks bearish here and is following a very similar retrace cycle to last time.

Watch this space as I update this idea.

30 Tem 2023

Not

Look how both bounces hit the 0.5 fib, where the red arrow is pointing.

30 Tem 2023

Not

Also weekly 100MA is above price in a similar place and the weekly 200MA and 50MA also look similar in position.

30 Tem 2023

Not

On the lower frames it looks like a H+S and there is a 6 and 1/2 year support line that looks like its going to get tested.

31 Tem 2023

Not

Targets if this breaks down.

31 Tem 2023

Not

I also think this will happen to the ETH/BTC pair.

17 Ağu 2023

Not

That H+S formation I posted on July 31st finally broke down today.

25 Eki 2023

Not

The ETH/BTC pair price has moved into the area where I think it will make a HL. Lets see.

5 Nis

Not

Its been 1 year, 5 months and 11 days since I updated this idea.

It looks like I timed the B wave way too early, but the chart still looks bearish and still looks to be following the typical Elliot wave theory retrace.