Should we not hold 16K-18K, we got straight into 10K, more big liquidation from big projects can fuel that, otherwise 61% absolute retrace should build some ground, before dumping to retrace 76% if no interest appear.
And ETHUSD on 1W looks close to 85% with weekly countdown finishing which is typically what you expect end of major move.
In case bear setup 1M chart would show us WaveA of 10Y trend and its pretty much correlated with wallstreet nowadays.
Comment:
Price action validate signal on entry TF 1H, range entry would be around 18200
Comment:
Secret ingredient is sqeeze - 4H chart still wave4, so there chance it go for sqeeze 1.105 FIB of wave4 to catch all stops every low make wave5 and then pumps back. That sqeeze would also complete countdown 13 on sequential on daily
Trade active:
18600 entry
Trade closed: target reached:
looks like 1:1 sized waves 3->5 on 4H, could be end of wave3
24000 target reached
24000 target reached
