Saturday (slow?) rise

The last jerks on the way down looks finished by now. We did make one more minor low yesterday. As we believe and said in the last report, even more bulls now abandoned the idea of ETHBTC growing immediate from the current level. Ironically, however, this is exactly what could happen now.

See this beautiful pattern:

MidTerm-Bullish-1

The 5 waves decline is divided exactly by the Fibonacci 0.618 at the point where wave 1 stopped. Correction in wave 2 was complex one, where the correction in the wave 4 was fast and simple one (zigzag a-b-c). Wave 3 is 1.618 extension of the wave 1. Basically, it looks like almost the perfect 5 waves move. The only “not fully normal” fact is that the corrective wave 2 is complex and shallow, because in a “perfect” impulsive pattern wave 2 tends to be deep and swift one. But that is exactly what makes Elliott Waves analysis so exciting and demanding work for a analyst. Every case is somehow unique.

As we said before, one has to keep the mind open and be ready to adjust the structure to what the market tells. Not vica versa.

Is there is anything what will make us change the current bullish stand ? Yes, sure. In case we move below 0.02040, the bullish structure we are following on this blog will be invalidtaed and we will have to change it.

Just to remind you, this is our long-term view:

LongTerm-Bullish-1

Take care,  read the opinions of others but always make your own decisions. No one is right 100 % of the time. We aren’t too and we don’t know anyone who is.

Plane your trade, trade your plan.

The Elliott Wave Principle describes the behaviour of the financial markets. This Principle is build on the mass psychology swings from pessimism to optimism and back in a natural sequence. When these swings happen, the specific Elliott wave patterns in price movements are created and become visible. Each pattern has implications regarding the position of the market within its overall progression, past, present and future.
The purpose of our blog posts is to outline the progress of markets in terms of the Elliott Wave Principle.
While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will my posts make specific recommendations for any specific person, and at no time may a reader or viewer be justified in inferring that any such advice is intended.
Very important. Investing carries risk of losses. You should be aware of all the risks associated with investing/trading financial instruments. Information provided in this blog is expressed in good faith, but it is not guaranteed.
The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities.
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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

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