So far ETH is still following the path I laid out two weeks ago. It would appear ETH has just completed an ABC correction and should start to fall from this level toward the 350-400 level.
We can see ETH has just been rejected from the downtrend line and appears to still be moving within the pitchfork of the downtrend channel
Okay so what about a bullish count well it doesn't look good and at best ETH could be putting in a leading diagonal but it doesn't seem likely at this point
So whats the target, Well oddly enough the 1:1 of the Y wave is 371 and the 1:1 of the A wave in the Z is 373 that area would also fit within the pitchfork and would be a good target to complete this WXYXZ correction.
If something changes I will update
Prosperous trading everyone,
These are my ideas for my trades and should not be used for your trading strategies.
We can see ETH has just been rejected from the downtrend line and appears to still be moving within the pitchfork of the downtrend channel
Okay so what about a bullish count well it doesn't look good and at best ETH could be putting in a leading diagonal but it doesn't seem likely at this point
So whats the target, Well oddly enough the 1:1 of the Y wave is 371 and the 1:1 of the A wave in the Z is 373 that area would also fit within the pitchfork and would be a good target to complete this WXYXZ correction.
If something changes I will update
Prosperous trading everyone,
These are my ideas for my trades and should not be used for your trading strategies.
Possible bullish count for a 3rd wave.