Ethereum Officially in Crash: Direct Crash or Bounce First?
I have adapted the bearish RED pattern in Ethereum (ETHUSD) as the PRIMARY pattern, and it could take Ethereum all the way down to 1150!
I had the 'trapdoor' opening point set in the 2900-3000 support region, and yes, we have broken below it! We may already be in the 3rd wave of the C-wave down! I have started to unload my positions in Ethereum as we may not get another chance to escape.
If we really are going RED, what should you expect? We should be getting very close to bottoming for the 1st wave of the larger red C-wave, and that mean we should see a sharp 2nd wave bounce back up. This deep zigzag up would be expected get us a "gentleman's exit" around the 3800-4200 region before starting the harrowing 3rd wave down of the larger red C-wave. This means we should have an opportunity to exit after recouping some of the losses. HOWEVER, it's looking more and more like we may crash directly WITHOUT a bounce first. Stay on your toes!
Check out my YT explainer video!
I use Elliott Wave analysis to project price levels for different assets and asset classes. EW is a form a technical analysis that is absolutely NOT based on fundamentals. Please be aware that this video is intended to act as financial advice. I am not a trained or certified financial professional. You may invest based on a strategy tailored to your own skill and risk-tolerance levels.
#ethereum #bitcoin #cryptocurrency #blockchain #crypto
I had the 'trapdoor' opening point set in the 2900-3000 support region, and yes, we have broken below it! We may already be in the 3rd wave of the C-wave down! I have started to unload my positions in Ethereum as we may not get another chance to escape.
If we really are going RED, what should you expect? We should be getting very close to bottoming for the 1st wave of the larger red C-wave, and that mean we should see a sharp 2nd wave bounce back up. This deep zigzag up would be expected get us a "gentleman's exit" around the 3800-4200 region before starting the harrowing 3rd wave down of the larger red C-wave. This means we should have an opportunity to exit after recouping some of the losses. HOWEVER, it's looking more and more like we may crash directly WITHOUT a bounce first. Stay on your toes!
Check out my YT explainer video!
I use Elliott Wave analysis to project price levels for different assets and asset classes. EW is a form a technical analysis that is absolutely NOT based on fundamentals. Please be aware that this video is intended to act as financial advice. I am not a trained or certified financial professional. You may invest based on a strategy tailored to your own skill and risk-tolerance levels.
#ethereum #bitcoin #cryptocurrency #blockchain #crypto
