Ethereum - The selloff is coming.

I am leaning against a 710 break at this point in time, and I am still overall bearish.

Breaking 710 would only take us to around 750 according to one of my previous charts in my previous post.

If we follow previous 1-2-3-4-5 wave with correction, we are looking at a massive correction to 375.

I think it is a horrible time to buy right now... but what do I know? I'm just some random guy online.

As always, not financial advice and just mostly for entertainment purposes.

Anyway, good luck all!!

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If you want to make the correction wave similar by percent drops to previous one, then you get this image. I don't think this is likely to happen.

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A more closer look at the action.

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If you are a bull, you really want to see a 710 break. You do not want to see a weak 4-5 wave. It's quite simple really.

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Just something to consider, Cardano has a strong 4-5 wave. This could suggest Ethereum breaking 710,if it follows through, but I am not sure.

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Been a few days, but there seems to be nothing really eventful happening. I don't view this as a consolidation and I think Ethereum is running out of steam.

I think the drop from here could be quite steep if it happens. Still haven't gone above 710 to prove a strong 4-5 wave. I see absolutely no reason to be a buyer here.

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I think we may have gotten invalidated by that breakout. I will see until close then make a decision. The 4-5 wave did not play out the same way now.

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Well, at this point, I would have to fall back on one of my old arguments, which was the fractal. Let's see if it retraces to around 550, then we'll know.