Ethereum could to ending this ABC correction pattern
Ethereum could to ending this ABC correction pattern in weekly timeframe what we look an interesting point to view that in based what will be the reaction of Forex market for the next weeks, I can to take a good plan to change my mindset and look possible bought in the new bull rally, but there're some point that we would need to confirm.
1) Fundamental Analysis
2) Technical Analysis
3) Look the sights by medium to long term in based of these first 2 points.
Well, I share this screenshot in weekly analysis that we formed an ABCD correction pattern and we have the same measurement using Fibonacci for harmonic. So, in based of the ABC correction pattern, we could to se a new bull rally soon. But, this rally we need to support by negative news in the global economy, with more correlated with U.S. Dollar, look the interest rates, Gross Domestic Product and more macroeconomic data to confirm it that Ethereum it's in the good point to bought. By the contrary, we could to invalided this pattern and in case of more crash, so, we don't ending the bear market. We're in the bear market yet, but using some point mentioned above, you can to take better decision to invest in crypto or stocks.
Now, I look that in monthly timeframe, we closed up pretty positive to consider a bought, but I'm interesting to trade and check-out the short timeframe like Daily if we could to see a opportunity to trade Ethereum to long.
I hope that this analysis support you!!!
1) Fundamental Analysis
2) Technical Analysis
3) Look the sights by medium to long term in based of these first 2 points.
Well, I share this screenshot in weekly analysis that we formed an ABCD correction pattern and we have the same measurement using Fibonacci for harmonic. So, in based of the ABC correction pattern, we could to se a new bull rally soon. But, this rally we need to support by negative news in the global economy, with more correlated with U.S. Dollar, look the interest rates, Gross Domestic Product and more macroeconomic data to confirm it that Ethereum it's in the good point to bought. By the contrary, we could to invalided this pattern and in case of more crash, so, we don't ending the bear market. We're in the bear market yet, but using some point mentioned above, you can to take better decision to invest in crypto or stocks.
Now, I look that in monthly timeframe, we closed up pretty positive to consider a bought, but I'm interesting to trade and check-out the short timeframe like Daily if we could to see a opportunity to trade Ethereum to long.
I hope that this analysis support you!!!
