ThanatVichachai

Case2: Etheruem pull back wave x and moving upward triple x non

Long
KRAKEN:ETHUSD   Ethereum / U.S. Dollar
In this case previous low we assume that wave 2 of the supercycle is already finished
so we are in wave super 3x or wave c - and this motive wave in the timeframe month
might be a triple combination or triple zigzag .

Rule
Because the former wave is elongated zigzag that means wave x must retrace at
At least 61.8% of wave c (847.30)
It can retrace deeper but it must not retrace more than 61.8% of the previous cycle
elongated zigzag (726.07)

Conclusion
It might retrace in the (847.30-727.07) zone to form wave x and keep continue moving upward

Warning
Ethereum is a very fluctuated coin so make research on your own, you may look at my first case which is the downward situation.
I strongly believe that everything is possible to manage your capital carefully.

Vitalik Buterin's fan
Thanat Vichachai

Comments

Hi,

Is this view still valid or do you it has been negated given the steady rise of Eth from the current lows?
Reply
ThanatVichachai ranjanalok0603
@ranjanalok0603, Hi Ranjana. This trading analysis is just one of my trading analysis, I think this case has a quite low possibility now for the correction to move down.

Why?

If the wave x that I label is not finished, the price should not break the 61.8% Fibonacci level but it's already broken. So the next case is going to be flat or triangle move if it still wants to move downward. But I strongly disagree with this because I count sub-waves of wave a, and I got 5 sub-waves so it is impossible to make another correction flat or triangle.

Conclusion
This case might no longer work because wave b of the zigzag is already broken the rule of 61.8%

AND

It's Impossible to be flat or triangle because sub-waves of a is counted 5

I will make another case which I think we might just be in wave 3 elongated zigzag and it's still not finished.

But there also be another perspective !!!!

If the spike up price is just one leg of flat or triangle, this case still has some possibility for ETH to go down. But it's a really low chance for me about 10% because institutional players are interested in Ethereum a lot at this moment, it's hard to bring it down.
Reply
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