Coulda been the Willie Nelson, Coulda been the wine
Updated
A crypto telegram I follow had ETH in a range box running from roughly $650 to $730. On the daily I can see it. On the 4 hour though it presents to me as a wedge. Your thoughts?
None of the fib points matched up nicely for me so no clue on targets. Elliot wave guy I follow is trying to sell this as the consolidation for wave 5. Me, I'm flat. I think the SEC will make an example of a coin at some point (today's low cap coin they took down isn't a big enough message) and I'm concerned that'll be ETH. No evidence to back that up. Pure....100%...... speculation.
ETH's functionality and promise seems to be fading a touch as other projects conceivably could catch up and pass this first mover. Fundamentally still strong but a concerned glance over your shoulder is warranted.
I'm very inexperienced at pattern trading and all my posts are meant as a public record of my thoughts as I learn to trade. Please do your own research before taking a position in any investment.
None of the fib points matched up nicely for me so no clue on targets. Elliot wave guy I follow is trying to sell this as the consolidation for wave 5. Me, I'm flat. I think the SEC will make an example of a coin at some point (today's low cap coin they took down isn't a big enough message) and I'm concerned that'll be ETH. No evidence to back that up. Pure....100%...... speculation.
ETH's functionality and promise seems to be fading a touch as other projects conceivably could catch up and pass this first mover. Fundamentally still strong but a concerned glance over your shoulder is warranted.
I'm very inexperienced at pattern trading and all my posts are meant as a public record of my thoughts as I learn to trade. Please do your own research before taking a position in any investment.
Note
Well I'm 2 for 2 falling to the downside of channels or wedges. Market took a tumble, it happens.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.