Hello, my dear friends!
As you know, I am bearish on the entire crypto market and Ethereum is not an exception. It's waves formation looks like we have seen on Bitcoin. Therefore, I expect the same outcome in the upcoming weeks.
During May 2023
ETHUSDT is stagnating very very slowly. It looks like annoying downward sloping sideways. Perfectly, I expect to see the huge dump next week, because bears have to confirm their intentions. I am sure that uptrend is over because we can see the clear 5 waves structure, the divergence on the Awesome Oscillator. If the first dump was the wave 1, it means that now asset is printing the wave 3. The wave 3 ordinary target is locatet at 1.61 Fibonacci extension, approximately at $1450😱.
If price will reach this target, we also see the key trend line breakdown. Last time price immediately bounced off this trend line, but this time I consider the bad time for ETH. We also should talk about the scenario invalidation. We have the countertrend line. If price will be able to break it my scenario is wrong and current dump is just a correction.
Best regards, Ivan
______________________________________
❤️Follow me and never miss the update❤️
As you know, I am bearish on the entire crypto market and Ethereum is not an exception. It's waves formation looks like we have seen on Bitcoin. Therefore, I expect the same outcome in the upcoming weeks.
During May 2023
ETHUSDT is stagnating very very slowly. It looks like annoying downward sloping sideways. Perfectly, I expect to see the huge dump next week, because bears have to confirm their intentions. I am sure that uptrend is over because we can see the clear 5 waves structure, the divergence on the Awesome Oscillator. If the first dump was the wave 1, it means that now asset is printing the wave 3. The wave 3 ordinary target is locatet at 1.61 Fibonacci extension, approximately at $1450😱. If price will reach this target, we also see the key trend line breakdown. Last time price immediately bounced off this trend line, but this time I consider the bad time for ETH. We also should talk about the scenario invalidation. We have the countertrend line. If price will be able to break it my scenario is wrong and current dump is just a correction.
Best regards, Ivan
______________________________________
❤️Follow me and never miss the update❤️
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Claim up to 600 USDT in welcome rewards & compete for a share of 5,000 USDT in BitMart Futures Contest!
➡ Register & Claim Bonus: bitmart.com/invite/VShg8M
➡ Join Contest: bitmart.com/futures-competition/Skyrexio/en-US
➡ Register & Claim Bonus: bitmart.com/invite/VShg8M
➡ Join Contest: bitmart.com/futures-competition/Skyrexio/en-US
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.