ETH in the midst of an ABC Elliot Wave. Huge Profit Possible.
Assuming that Ethereum consolidates the same way that Bitcoin, Ripple and all the other top 20 coins I can think of have done after monumental gains and using Elliot Waves, the ABC correction wave, and fibonacci retracements it is clear that Ethereum will be trading in a zig zag pattern for a while. We will ignore the bullish EMA signals that are active at the moment. In the long term we believe that Ethereum will hit $2000 before 2018 is over. We want to be clear that we are not bearish on Ethereum. We are simply making a play on the current situation. This is not an overnight trade. This may take days or weeks to complete.
*Note that we believe that there is sufficient support at the .236 fib level to cause a bounce to the upper part of the triangle. However, a stop loss should be placed beneath the entry point in order to mitigate risks...watch out for bull wicks though! These wicks can trick even the best traders so please make sure to leave some room for that when you set your stop loss.
*Note that we believe that there is sufficient support at the .236 fib level to cause a bounce to the upper part of the triangle. However, a stop loss should be placed beneath the entry point in order to mitigate risks...watch out for bull wicks though! These wicks can trick even the best traders so please make sure to leave some room for that when you set your stop loss.
評論:
The impulse wave has failed as expected. It went longer than we thought it would but our target still stands. For those of you looking for a USD entry point, $925 seems like a good support.
評論:
BTC volatility completely threw off our prediction. Please watch BTC movements carefully when trading Crypto. We are still very bullish on ETH for the Long term but need to reassess our wave analysis as new data comes in .