This is overall a simple ABC corrective wave off of a monster of a rally that climaxed with the Part 1 Byzantium hard fork of Metropolis. From here we could very well see a wave 3 double-monster of a rally that breaks above $350 and reaches the upper-$300's in short time, right on time for the DevCon3 lead-up....
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Having said that, this is also a dangerous time as we've pretty simply (on little volume) gone right on down in a matter of days and touched a pretty major trendline which was seemingly nowhere in sight just a couple days ago. So keep a tight lid on stops. $300 is a solid one and price getting below $286 would be pretty disastrous at this point. We'll see...
For now though, getting above $331 will be a key trigger for Elliott Wave to signal that yes, this was indeed just a minor correction.
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Having said that, this is also a dangerous time as we've pretty simply (on little volume) gone right on down in a matter of days and touched a pretty major trendline which was seemingly nowhere in sight just a couple days ago. So keep a tight lid on stops. $300 is a solid one and price getting below $286 would be pretty disastrous at this point. We'll see...
For now though, getting above $331 will be a key trigger for Elliott Wave to signal that yes, this was indeed just a minor correction.
Nota
Wow, this has quickly developed into a massive shake out. $286 has held thus far. But is still pretty vital. Below that would target the bottom of the ascending triangle at about $245'ish and quite possibly break below it.... Overall I don't think we come close to that here though, mainly because we never tested the top of the ascending triangle at the $400 region since we last tested the bottom of the ascending triangle. So overall $286 is huge.
Nota
Pretty sure we are moments away from a rocketing up of ETH and BTC.Nota
$340s would be my likely target in just a matter of hours, certainly with the next 24 hours. Maybe mid-$6k for BTC. We'll see.Nota
Hmm leadup to this tomorrow (meetup.com/New-York-Smart-Contracts-Meetup/) could actually light the spark that's needed.Dagangan ditutup secara manual
The Meetup was a bust. This trade was a bust overall. The buy-side volume is just not there like it was. Might be time to take a couple steps back here and just distance from ETH for a couple days.Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.