We watched for a very very long time as ETH was forming a rising wedge. Then it broke up and we all of a sudden got bullish and looked at the smaller time frames. @crimsonronin was nice enough to pull my head out of the sand. The rising wedge had a fake out breakout and has now collapsed and is falling under the wedge. Doing a proper count now you will see that we are now entering into wave C of the correction. Target is $175 with possible extension.
There are many other indicators that say we are going down. Volume is divergent, AO says sell, Stoch says sell.
Remember, I can be completely wrong, and this will take some time.
Constructive comments are welcome
There are many other indicators that say we are going down. Volume is divergent, AO says sell, Stoch says sell.
Remember, I can be completely wrong, and this will take some time.
Constructive comments are welcome