Ethereum (ETH): ABC Correction Target Analysis
SUMMARY
Ethereum's (ETH) short term shows that the C wave is likely not done, based on the subwave count. The blue 1,2 and 3 are complete but the 4 is not yet finished. There is likely another lower low for blue wave 5 as shown and that could potentially reach the $580 or so. Could the correction be complete now? Yes, there is a scenario for that and the first requirement to confirm is for an impulse wave to progress upwards. However, the current bounce doesn't have the attributes of an impulse thus far.
The downward wedge was breached by a burst in price which is exactly how a decisive breach should be. The purple wave 1 is complete and wave 2 is in progress. The red ABC jives with the shorter term to target somewhere in the high $580s or so. Once purple 2 is complete, purple 3 should take prices to climb higher violently. In the longer term perspective, little has changed and the trend reversal has not been reversed.
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Elliott Wave Counting Tutorial #1
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yes. it is possible ewp pattern
This analysis seems to be correct..
Among the cryptos Ethereum has the brightest future..
Ethereum will be the king among cryptos in a year..
Hold on to your ethers for sure..
This corrections are too long.
I hope after consensus 14-16 may things will change and we will see the moon :)
Haejin, I want to express concern about the Bitcoin Live operation you've joined. Less than a month before launch on June 4th I got an email today that acknowledged many people have inquired as to the price of the program. When the email fails to answer that simple question and assures everyone that the 'founding member' price will be extremely affordable - when one considers the type of content - my alarm bells go off. This type of charlatan marketing sucks and is unworthy of a person of your stature. It is obvious that the price will be expensive to the average follower and likely unaffordable to most. I couldn't care less about the other five participants. You are the only one worth following. Tone Vays is the Roger Ver of technical analysis and I don't mean that as a complement. How he has any reputation in the crypto world is beyond me. The rest are worse. Why damage your reputation by associating with these 'leaders' in crypto who don't hold a candle to your skills and up until now honesty. You will end up regretting this association.
I am also concerned by your recent postings about Explora. There are many competitors in the field and Explora is a long shot to do anything long lasting. To my recollection you made no statement as to whether you were invested in Explora or were being paid for the endorsement. Your failure to address your 'involvement' or lack of it suggests you probably are reaping a financial reward for the post. Remember what you used to always say on Steemit. You pledged to 'help and do no harm'. I am sensing you may be beginning to stray from that commitment.
I highly respect your skills and the way you have handled yourself on Steemit and Youtube in the past. There is no one better than you in the cryptosphere at what you do. I know you are not going to leave Bitcoin Live before it begins, and probably think my concerns are unfounded. Nevertheless, I felt strongly enough about what I am seeing to express my views and concerns. Good luck in whatever future endeavors you embark upon, but always keep in mind your commitment to 'help and do no harm' above all else.
We need some dips for shopping man!
Hey btw please repost this for bitcoin hesitating people!
Thank you in advance!
https://steemit.com/bitcoin/@aro.steem/bitcoin-adopters-yet-more-to-come
Thanks for this!
Hi Haejin, how can I tell the difference of an impulse wave vs correction still in play. What specific criteria am I looking for to confirm that the correction is completed. Still learning Elliot Wave
Hey Haejin,
really hoping for a
GOLEM GNT Analysis!
Sold at the top and dont know if I should rebuy or if a longer correction is in progress :)
@haejin we welcome you to join Steemspeak https://discord.gg/9dk97mP
"In the longer term perspective, little has changed and the trend reversal has not been reversed." Is he saying we are still in a bear market..? I know longer term he is very bullish