BITFINEX:ETHUSD   Ethereum / Dolar
ETH follows BTC path, both are very similar. I see ETH reaching about $1 000 before going down and my reasoning behind it is quite simple. BTC is doing a 5th wave and so is ETH. ETH got a lot to square up at the 720-580 level. That level is a good re-entry but if we use a logical approach based off the fact that ETH and BTC move together ( BTC being in control and ETH following) Then the .5 FIB retracement make a bit more sense especially considering its on a major level.

I believe BTC is going to do a 5th wave starting at around $11 000-11 500 and drop all the way down to the $4 000 area before starting its ascension to ATH and for that reason I am seeing ETH dropping lower than what it dropped to on the 5th of February (when BTC dropped to $5 900). Call me crazy but I have predicted the BTC bottom at the beginning of the month when everyone else thought BTC would never drop under $10 000. I called it and I was right. I called it based off of Elliott Waves and I have been right so far. I am now predicting the 5th and last wave.

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Make sure to like this post if you agree!
ok analysis, good idea.
im saying "nah fam."
Denzoss itux82
@itux82, Okay
New to TA. Can you please tell me how you are getting those Fibb Numbers? What prices are you using? Low and High please
Can we see this elliot wave count?
I think the volume is really telling for the direction we are moving (maybe why you left it out?) the strength of this bounce and volume nullify the possibility of a bull trap and further strengthen the possibility of a prolonged bull run.
+1 Balas
Nice chart mate.
Keep being realistic as situation requires since we are in bear market.
Regards and all the best
looks about right
+1 Balas
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