Ethereum (ETH) is Executing a Flat (3,3,5) ABC Correction
SUMMARY
Ethereum (ETH) is being held down by a blue trendline resistance that has not yet been breached. However, I believe it's only a matter of first completing the correction which is likely to be a Flat (3,3,5) correction as shown by the ABC waves. It would seem that red C wave would have an affinity for the 0.78 Fibonacci zone.
A detailed view shows that subwaes of red A as being three wave and the same for red B. Waves C and A would likely tend toward equality and that would likely mean the C would target the 0.78 Fibonacci level which is at $310 or so. Unlike LTC and BTC, ETH is not yet able to be counted as having wave 1 and 2 of a reversal because it has not yet completed the whole correction.
If a line is drawn across the current and projected price bottoms, a downward symmetrical triangle can be outlined. The confluence of pattern and waves are not accidents.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Correction hurts, but its good for long term. I started buying on dollar cost averaging.
He was liking me today. He even liked 4 articles it looks like he changed his behavior for the better. I still wish he would give more info. I've been a forex trader and we all know that TA isn't everything.
worthless reply but I like it so...I give you 1 cent.
I used to be @Haejin's #1 fan. I no longer believe anything #Haejin post here on #Steemit.
You even upvoted me one day & then removed it. That really made me upset!!!
https://steemit.com/haejin/@born2crypto/haejin-predicts-bitcoin-will-be-usd270-000-by-2025
A Whale's Dream...
If this was a chart for a small coin then the Pump and Dump groups would be blamed with everyone agreeing. Ethereum Daily chart looks exactly like a pump and dump to me just over a much longer period of time.
Also the fact they started futures basically at the top of the pump... you can't make this shit up man it's so brutally obvious now in my mind that the crypto market is done for.
Thanks for sharing! So the loading zone is ~400?
$300 ETH is a great deal...
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Don't trust Haejin, he is a fraud and a reward pool rapist.
$310?! AWESOME! hope you're right mate, i'm gonna hold out for that price til i buy then.. was waiting for around $450!
I don't see more correction as this one looks over!
Price broke daily demand at $600, but there is a strong zone, a weekly zone with buyers waiting at $425. Price is in the zone now. Let price action determine your next move.
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Letting the community know that @edgarcanela18 downvoted this comment.
Thanks for removing your downvote @edgarcanela18!