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Batrachotoxin

ETH/USD short-term prediction. Elliott Waves count.

Short
Ethereum (BITSTAMP:ETHUSD)  
Batrachotoxin Updated   
BITSTAMP:ETHUSD   Ethereum
Trend Analysis Chart Patterns Wave Analysis ETHUSD elliotwaveanalysis breakdown
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trendanalysis chartpattern waveanalysis ethusd elliotwaveanalysis breakdown
ETHUSD

ETH is running to the end of 1st primary impulse wave. ETH will meet $200 before would have a correction (2nd primary wave) to ($137 - $124) area, which are Fibonacci 50% and 61.8% supports. After correction, ETH will keep its rising, as 3rd wave starts.

A rising wedge pattern is marked on chart. It is a continuation pattern, which means ETH will breakdown this wedge with a dump to predicted price area.

A short (sell) idea is suggeted from around $200 to around $125, with a stop-loss at $205.

Estimation time of this idea: 1 - 2 weeks.
Comment:
Due to the extend of wave 3, ETH met Fib 0.382 first before moving up, target remains the same as last analysis.
Trade closed: target reached:
ETH reaches fifth wave target.
I detected some change on ETH movement.
New analysis will be posted.
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