Price only goes up or down, but the paths it can take are infinite.
To help fight my biases I take a number of potential paths including important zones where price is more likely to stall or bounce.
With ETHBTC the over-all shape since the lows is that of a large flag which could lead to an impulsive break up. The move resulting from this would be powerful, but...
So, we see a 4 grand waves, with their subwaves I've highlighted on top of the candles. Below I've highlighted the grandwaves with their respective retracements.
We're currently in a descending wedge which is slowly entering the golden fib zone for the entire impulse move upwards from $80.
$108-112 is where I will be longing with a stop loss at $104, targeting...
Impulse back above Mondays Low and the move down was likely a stop run.
There is some inefficiency between current price and Daily Demand which
is also in confluence with Weekly Demand that has not been properly retested,
ofcourse, it doesn't have to.
Favouring a bounce from here, Back above Mondays low pivot marked as red box
would be my confirmation for more...
Crypto is looking for a solid move with continued stability or some upwards movement with btc pushing the sideways resistance and the market looks for a long overdue break.. ETH looks set to break upwards out of its bullish pennant, with talks of sharding and new tech to alleviate the short sellers maybe some decent price movement. The upper ranges as seen on the...
We expect the correction wave structure to rise to 247 usd. Then we expect the second downward wave structure to continue. Its size may be similar to the size of the first wave structure. The second downward wave structure (BC) target price is 120 usd levels.