ETHUSD on Daily Chart - Clearly the failed impulse at the end of the ABC Correction has now developed into a WXY correction.
And Y is currently in development. The possible zone for Y is indicated in the Red region between 0.382 to 0.65 of the major wave Fibonacci Retracement
And Y is currently in development. The possible zone for Y is indicated in the Red region between 0.382 to 0.65 of the major wave Fibonacci Retracement
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ETHUSD on 4-hr chart : Still bearish, breakout to Median where the 0.618 Fib is located for the completion of the 5-subwave for the WXY correction before the reversal. On a weekly chart, if this happens then the candle will either be a Hammer or a Dragonfly Doji which increases the chance of reversal. But Y must be achieved first.
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ETHUSD CHART needs to go down to 78.6% retracement before it can be oversold and then pierce through the RSI trend resistance (ORANGE). This is what I feel.
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ETHUSD Daily Chart Log Scale has broken the 1.0 Fib Channel Support
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LIKELY BUY ZONE
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ETHUSD jumps out of the accumulation phase
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Looks like ETHUSD will get up to (X) of WXY(X)Z. So expect a reversal and dip next to the 300-400 in the next few weeks