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ETHUSD Bullish Wave Setup

Long
Ethereum (BITSTAMP:ETHUSD)  
jsaettele  
BITSTAMP:ETHUSD   Ethereum
Chart Patterns Wave Analysis Trend Analysis ETHUSD
5
0
chartpattern waveanalysis trendanalysis ethusd
ETHUSD sports 5 waves up from the June low and 3 waves down from the August high. The corrective decline also forms a perfect channel and former resistance (highs in June and July) was support today. BTCUSD traded beneath its June low today before recovering, leaving a non-confirmation with ETHUSD (well above its June low). The setup is constructive and also suggests that risk assets are NOT bearish. -Jamie
Director of Technical Research at Krilogy, author Sentiment in the Forex Market

Twitter: twitter.com/jamiesaettele
Website: www.krilogy.com/
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