ThanatVichachai

Case1: Ethereum Pull back 61.8% of wave (c) of flat to form W.2

Short
KRAKEN:ETHUSD   Ethereum / U.S. Dollar
In timeframe day the rally up of ethereum might be a false motive to lure investor to buy
As you can see in wave (c) of (B) form elongated zigzag which means when the cycle is finish
it has to pull back at least 61.8% of wave (c) (around 547 of half of the current price)

Warning this is just one case of the Elliott wave analysis possibility - Make a research on your own
and don't forget to look at my second case analysis which is in upward prediction.

Be care full!
Vatalix Buterin's fan
Thanat Vichachai

Comments

Hi,

What's the scenario for Eth now? Right time to go short? Is the wave count complete?
Reply
ThanatVichachai ranjanalok0603
@ranjanalok0603,

Hi Ranjanalok

In my view, I think Eth is in a long position right now.

But for the bearish term, it is still possible. If the price does not break the high resistance because the ceiling price is exactly 123.6% - 1438.0 retracements of wave A
That means we might be in correction irregular flat which will affect the wave C to come downward exceed the former low - 961.77.

What if it keeps moving up it could be that wave C of the big cycles is not finish so the next targets are going to be 261.8% - 1490.84 or 423.6% - 2026.61
Because Ethereum just launch new smart contact, and the 2.0 staking program is coming. I think this fundamental aspect can help you manage your trade.
Reply
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