ETH Update: Primary and a Secondary
The below is my primary ETH count for EW. I know many won't like it, especially if they are well invested in it. However, parabolic hise of the past 7 months and the bearish outlook for Bitcoin makes this the primary count. ETH has followed Bitcoin pathway pretty closely. Given that Bitcoin has reached all time highs and ETH hasn't in the current run up could be bearish divergence. The MACD is about to cross as well.
The Alternate count is that ETH has more room to run up as shown by the white i,ii,iii,iv and v waves. This would mean the MACD needs to turn up very soon.
How to discern is the Alternate might dominate? If price goes above the curern labeled wave iii (white) in an impulsive 5 waves viewed in 1 hour chart and MACD turns up.
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish.
Thanks for the honest ETH thoughts..
I like that "honest" becaust that and humility has to go hand in hand in order to be successful in TA. The humility to take losses and learn and the humility to accept and take profits gratefully.
good - resteem
As someone who just recently invested in crypto's, I have to say that the market doesn't seem to make sense to me. From a technical standpoint, smart contracts seem to have MASSIVE potential. More so than Bitcoin even. So why isn't Ethereum growing more than it is?
ETH will be killed by EOS. Please see my EOS blogs.