Ethereum (ETH): Minor Correction in ABC

in ethereum •  last year  (edited)

SUMMARY

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Ethereum (ETH) is tracking yesterday's outline of the ABC correction pretty well. Price broke out of the small downward wedge but the breakout will likely be used to complete the red B wave rise.

IF red B wave is complete, then a decline into red C wave is the likely next step. Given that price had risen in a five wave sequence (blue); there is a requisite minor correction that needs to be completed. There is also the potential outline of a Head & Shoulders pattern but again, volume on this also doesn't confirm. A bit of a bear flag can also be spotted in the price for the B rise.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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thank you

A pod of whales came in here and breached all over the minnows. WTF?

My nuts are feelin quite bullish as of late....

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I can feel it.... all the way down in my PLUMS.

Great article and very informative, thanks for sharing. I've smashed the upvote button for you!

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Hey Haejin GFY

bitcoin-bull-white-300x240.jpg

you also do the same.... thats hypocrisy :P

Coins mentioned in post:

CoinPrice (USD)📉 24h📈 7d
EOSEOS10.864$-2.99%30.75%
ETHEthereum598.159$-1.7%17.61%
WAVESWaves5.066$-3.55%7.22%