Your Evening Read: Ethereum Headed to New lows?
Last night I posted.
As of today it clearly appears we're underway.
However, rather than get ahead of ourselves, lets outline what path price would most likely take if in fact new lows are where we're headed. The micro chart below is a standard impulse wave from the recent highs and how each movement should unfold. The charts shows the first 2 sub waves ( i-ii ) of our 5 wave, larger wave 3 down. The conclusion of the larger wave 3 should be in the area of $800-$900 range. This will be followed by a wave 4 retrace and then a final wave 5 down to the $600-$700 area for a bottom (as outlined in the main chart above).
The above micro chart deserves our close attention, as I have written about extensively, we are approaching a major super cycle bottom. This will be a major buying area.
Best to all,
Chris
As of today it clearly appears we're underway.
However, rather than get ahead of ourselves, lets outline what path price would most likely take if in fact new lows are where we're headed. The micro chart below is a standard impulse wave from the recent highs and how each movement should unfold. The charts shows the first 2 sub waves ( i-ii ) of our 5 wave, larger wave 3 down. The conclusion of the larger wave 3 should be in the area of $800-$900 range. This will be followed by a wave 4 retrace and then a final wave 5 down to the $600-$700 area for a bottom (as outlined in the main chart above).
The above micro chart deserves our close attention, as I have written about extensively, we are approaching a major super cycle bottom. This will be a major buying area.
Best to all,
Chris
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