According to my Elliott Wave count, ETH is in a reactionary wave (a correction within the correction). We are in a short term uptrend within the longer term downtrend. We have just completed 5 waves with a ending diagonal and will likely see a dip. If the prices dip, we could set some buys orders and ride to back to 1k.
Note: If ETH hits the target price before hitting the buy zone, this setup would be invalid. ETH has to hit the buy zone before hitting the target.
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Komentarz
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I think that price is likely to go up in the short term for now. For long term investors hold tight, the price will likely dip below 800 in a few days/weeks.
It's been following your prediction pretty closely. Expecting it to drop and retest the low by today?
aoeuaoeu
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@vspectra, if Bitcoin drops again, that will likely happen. If Bitcoin doesn't drop, the retest probably will happen in a few weeks.
cb.julien
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Hmm, if ETH goes below 900 again that would mean the entire crypto market plunges back down and BTC would likely be under 10k. You think this correction/crash isn't over? Historically there is always a ~72 hr crash in January in crypto
aoeuaoeu
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@cb.julien, don't know if the correction is over, but I think we will have a short term dip.