ETHEREUM LOOKS BEARISH HERE ELLIOT WAVE THEORY CYCLE
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Hello Traders,
Ethereum looks bearish here and is following a very similar retrace cycle to last time.
Watch this space as I update this idea.
Ethereum looks bearish here and is following a very similar retrace cycle to last time.
Watch this space as I update this idea.
Commento
Look how both bounces hit the 0.5 fib, where the red arrow is pointing.Commento
Also weekly 100MA is above price in a similar place and the weekly 200MA and 50MA also look similar in position.Commento
On the lower frames it looks like a H+S and there is a 6 and 1/2 year support line that looks like its going to get tested. Commento
Targets if this breaks down.Commento
I also think this will happen to the ETH/BTC pair. Commento
That H+S formation I posted on July 31st finally broke down today.Commento
The ETH/BTC pair price has moved into the area where I think it will make a HL. Lets see. 
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