Ethereum is in a bigger ABC correction and we are now on wave C, which is made up of 5 waves. We are finally in the 5th wave and this is where the madness begins.
Where is the bottom? Do I buy now? Should I short once more?
There will be crypto sceptics shorting Eth believing this is the end of Ethereum and on the opposite side, loads of bargain hunters buying it at a discounted price with the hopes of making stacks when the next bullrun starts.
We've all heard the saying "Fools rush in" - in this situation, let us not be fools. Lets wait for the market to give us a clear indication that the bottom is in place and the reversal is coming.
The way to do that is very simple: Count 5 waves down and draw a trendline when possible. Once that's in place, its a matter of waiting for the descending trendline to break and gain an entry. It won't be a sniper entry but it will be safer than calling the bottom.
Goodluck and lets trade safe!
Where is the bottom? Do I buy now? Should I short once more?
There will be crypto sceptics shorting Eth believing this is the end of Ethereum and on the opposite side, loads of bargain hunters buying it at a discounted price with the hopes of making stacks when the next bullrun starts.
We've all heard the saying "Fools rush in" - in this situation, let us not be fools. Lets wait for the market to give us a clear indication that the bottom is in place and the reversal is coming.
The way to do that is very simple: Count 5 waves down and draw a trendline when possible. Once that's in place, its a matter of waiting for the descending trendline to break and gain an entry. It won't be a sniper entry but it will be safer than calling the bottom.
Goodluck and lets trade safe!
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ETHEREUM 4D Chart
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