Ethereum regular flat correction
If the price goes lower than wave AB, then wave C can reach 123.6% - 161.8% of wave AB. I am cautious for going long on Ethereum because Bitcoin CME Futures chart has a cap between 57895 and 60845, which can pull down Ethereum if Bitcoin retest or fills that cap. Right now I am staying neutral on Ethereum until I have seen a clear direction.
Disclaimer:
The information provided in this chart analysis is for educational and informational purposes only and should not be construed as financial advice. I am not a licensed financial advisor, and this analysis does not take into account your individual financial situation or investment objectives. Any financial decision you make based on this information are solely your responsibility. Please consult with a professional financial advisor before making any investment decisions.
Disclaimer:
The information provided in this chart analysis is for educational and informational purposes only and should not be construed as financial advice. I am not a licensed financial advisor, and this analysis does not take into account your individual financial situation or investment objectives. Any financial decision you make based on this information are solely your responsibility. Please consult with a professional financial advisor before making any investment decisions.
Note
In my understanding, a regular flat correction has completed, and I am now observing a potential ABC corrective wave pattern forming. I am sharing my thought process on these market moves and adjust my analysis as the market evolves. This is not meant to be followed by others, as I am prone to mistakes like anyone else. Instead, I welcome feedback that can help me question and refine my analysis.Note
There is bearish divergence on 1H and it shows that the current trend is losing momentum and the conditions are setting up for a trend reversal.
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