Regularly published in-depth analysis for the Ethereum (ETH) and sometimes other crypto tokens. We talk about the current price and a possible future development.
That was indeed fun
As we wished in the post earlier today “have fun”, we didn’t expect it will turn out to be this kind of volatile drop.
To be honest, that “challenge” count was a kind of preparation for the 5-th wave. We can still consider this Elliott Wave pattern to be valid. Though the wave 4 is getting stretched a bit out of our comfort zone. But as it is often promoted in the media lately – “leave your comfort zone”, therefore we first publish this count:
You might be asking yourself: why we stick so much to the idea that we are in the wave 4? And we will answer:
This marked wave is perfectly divided by the Fibonacci proportions, so-called golden ratio. So we prefer to see this part of the structure as a completed and separate 5 waves move.
This wave 4, however, is taking a bit too long time. It’s possible for the wave 4 to take longer time then wave 2. We saw it several time in another markets. So, we still keep it as our main count.
However, we feel like we need at least to briefly show you some alternatives.
The easiest one (at least to draw) is when we change it to:
And this is what we consider to be the next possibility:
We posted the charts exactly in the probability sequence. At least as the situation stays now.
We hope that the market will give enough price action in the next 24 hours to allow us to take out some of the possibilities out of the table.
Till then we need to keep all three of them under our consideration.
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.
This blog and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.
In no event will we be liable for any loss or damage on your account in connection with the use of our publications.