5 Step Elliott Wave 12.10.17 to 1.13.18 followed by what will be an ABC Elliott Retracement forming a cypher pattern that depicts the following...
-AB Leg, hitting pitstops/resistance at $1,000 and $1,100 before stalling at $1,250 and falling into the BC Leg -Just remember that the BC Leg is SUPPOSED to drop dramatically in order to grow us to new levels, strong hands are needed and don't panic sell... if anything, look for C to hit at either the $800 or at worst, the $650 mark. What a great opportunity to grab some discounted ETHUSD and ride it up the next uptrend -Remember that there will be some speed bumps along our journey back up towards the ATH as we follow this cypher pattern= $1000, $1100, $1200 and $1380... If we hit $650 at the fib ret 786 then expect to climb back to $1200 before major resistance... If we hit $800 at the fib ret 618 and where our A Leg ended at, then we should expect a climb up to $1380 with major resistance as we fight to surpass the ATH
*This is in no way financial/investment advice. This is purely for educational purposes only.*
Just curious, why would we have 3 major dips? We've never seen that in the past, 2 bottoms at most.
kseeley1083
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@ryanmack, you're absolutely correct... I believe the 1st dip you're referring to is what I see being the 3-4-5 completion of the Elliott Wave... The double bottom that I have charted consists of an ABC Elliott Retracement while hitting key fibonacci retracement #'s 618 and 786, not to mention (not displayed) if that C leg hits the 786 fib ret it will also be hitting the 127 fib extension from x. I could very well be incorrect and the double dip that you're referring to could potentially get ETHUSD back up towards it's previous ATH quicker than what I've charted here. I'm confident in the numbers and advanced patterns but only time will tell.
grass3
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@kseeley1083, Thanks for further elaboration. Hope you're right about the first dip. Keeping a close eye on it over the next day. Exciting stuff!
kseeley1083
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@ryanmack, Anytime, exciting indeed... Best of luck out there!