What's up everyone it's the Crypto Watcher here and today we're going to talk about the ETH/USD.
WOW WOW WOW
So symmetrical its amazing!
Ok let cut the chase we need to look at the chart and separate it into two different times:
1. Purple Eliot wave –
Phase 0 – 1: Eleven days to the top.
2018 has just started everyone is so excited!
Phase 1 – 2: The meltdown
This phase was directly caused by the BTC FUD which has just started for example:
* US Treasury Secretary Addresses Anonymity, Sanctions and Digital Currencies
* Central Bank of Indonesia Warns Against All Cryptocurrency Use, Cites High Risk
* Cryptocurrency Markets Falling After Recent Rise, Most Coins In The Red
* Metropolitan Bank Halts All Cryptocurrency-Related Wire Transfers
Etc..
All of this caused the first phase between 1 – 2 which took place at 13th of January till the 17th of January which happened.
Phase 2 – 3: Eleven days to the top.
We can see a market recovery which took eleven days and got us into the second peak of Eliot wave.
Phase 3 – 4: BTC is crashing and we are both on the same boat…
Another market crash which happened by the same reasons of phase 1-2.
Phase 4 – 5: If history repeats itself than why not?
as you can see every time we got into a new bottom it took us eleven days to return to the peak.
2. Orange Eliot wave –
With no further ado we got another Eliot wave which it takes us one day to get back to a new peak since it reached a new bottom.
Couple of things that you should notice them:
A. Every bottom in Eliot wave in this chart (no matter which Eliot wave we're looking on) is on a support line that can tell us that although the market is unstable we are still based on strong support line which at the past were a strong resistance lines.
B. Currently we are in a down trend that locked us in a downward Eliot waves we need to break it so we can start to see more bullish activity.
C. Every top is symmetrically to the one before.
Conclusion:
History repeats itself and we are out of the FUD so everything is going to be alright.
For more join us at Telegram: t.me/CpWrm
WOW WOW WOW
So symmetrical its amazing!
Ok let cut the chase we need to look at the chart and separate it into two different times:
1. Purple Eliot wave –
Phase 0 – 1: Eleven days to the top.
2018 has just started everyone is so excited!
Phase 1 – 2: The meltdown
This phase was directly caused by the BTC FUD which has just started for example:
* US Treasury Secretary Addresses Anonymity, Sanctions and Digital Currencies
* Central Bank of Indonesia Warns Against All Cryptocurrency Use, Cites High Risk
* Cryptocurrency Markets Falling After Recent Rise, Most Coins In The Red
* Metropolitan Bank Halts All Cryptocurrency-Related Wire Transfers
Etc..
All of this caused the first phase between 1 – 2 which took place at 13th of January till the 17th of January which happened.
Phase 2 – 3: Eleven days to the top.
We can see a market recovery which took eleven days and got us into the second peak of Eliot wave.
Phase 3 – 4: BTC is crashing and we are both on the same boat…
Another market crash which happened by the same reasons of phase 1-2.
Phase 4 – 5: If history repeats itself than why not?
as you can see every time we got into a new bottom it took us eleven days to return to the peak.
2. Orange Eliot wave –
With no further ado we got another Eliot wave which it takes us one day to get back to a new peak since it reached a new bottom.
Couple of things that you should notice them:
A. Every bottom in Eliot wave in this chart (no matter which Eliot wave we're looking on) is on a support line that can tell us that although the market is unstable we are still based on strong support line which at the past were a strong resistance lines.
B. Currently we are in a down trend that locked us in a downward Eliot waves we need to break it so we can start to see more bullish activity.
C. Every top is symmetrically to the one before.
Conclusion:
History repeats itself and we are out of the FUD so everything is going to be alright.
For more join us at Telegram: t.me/CpWrm