Just prepping for an Ethereum entry so not much to say here. Believe are completed 5 wave structure of the largest degree is complete. Now watching its retracement. Will change investment strategy and post new chart when I see the indicator confluence which I look for.
This is my my personal technical analysis and not investment advice.
Trade Wisely!!
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4hr
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Think I missed. Moved on. Will wait for next entry to get Long
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Interesting. Volume on sell
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I just don't see impulsive behavior. Plus we would be at huge numbers...Possible, yeah. Alternate count.
But I see the chart needing a more complex C like the other good Alts. Consolidation. we just did 1400 easy.
Yes, I have been long on Ethereum since $40 so this is my bearish opinion. I want to get a good entry. Long term bullish, of course.
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Example would be BTC. Indicates strength and hesitation.
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Possible XWY. I just would like to see Ethereum slightly cheaper, just like many people would like to see BTC cheaper. Short term Short, but long term Long.
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WXY
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Only thing to support is huge sell spike. And volume lowering.
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The more I look, I'm not favoring my alternate. That we are bullish, just yet. We have a leading diagonal, which is allowed in our first wave. Or we can just as likely have another ABC if volume doesn't pick up. MACD is flat, but we are in the vegas wave. Even so, if this is a leading diagonal, still can be a buyer at the next two. Then would have more to support Long entry.
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Quick update. Still favoring the downtrend using fib pulls, expected algo targets, and market geometry. Difficult count. Out of my league folks. But we definitely have a leading diagonal if this is our 1, which is not my primary count. I see more retracement being more probable.
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Sorry. Incorrect paste
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Seems like many alts are experiencing complex corrections. Why would I expect ETH to do differently. Nothing new in the chart which makes me see otherwise. Corrections are healthy, and my primary count is that we are still correcting.
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A quick morning update on ETH. Not much to say. Like many alts right now in in this correction.
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When I decide to go Long, will post new Long chart.
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In other words, confirmation of third (alarm set) and I'll flip with the tight stop looking for the 4. Around 1180
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A rip from 1040 would be ideal for those going Long. In other words, me flipping ;-)
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Retracement, I may flip position
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Such as this
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Looking like will not get the buyback price I was looking for. Favoring my alternate count. Definitely confirming uptrend