Sleepy market

Not so much to say today. ETH is slowly correcting lower. Well, actually the author expect it to accelerate a bit when the second leg of a correction will enter the active part:ETHBTCShortTerm

According to how Elliott Waves pattern looks now the correction should reach at least 0.01980. At this area the wave “C” will equal wave “A”. Besides, it will also mark the 50% replacement of the initial 5 waves rise from 0.01510 to 0.02440:ETHBTCMidTerm.png

It is, however, too early to speculate on it. We still need to wait and see.

To see if the Elliott Wave structure will be more or less completed at this point. And also sentiment should become ripe to allow the wave 3 to kick in.

For the moment sentiment is also boring. Not really fearful of a drop. Not too much optimistic about the rise. So here we also need to wait and let stronger bias will become visible.

Have a nice time for the rest of the weekend.

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.
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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

2 thoughts on “Sleepy market”

  1. Greetings from rainy Latvia!
    Eth not so sleepy anymore 🙂
    Looks like OKcoin is going to to add ETH after all. Also Vitalik had participated in Ethereum Moscow meeting today.

    Like

  2. Oh, yes. Boring is something different =) Just published an update. Vitalik in Moscow could be positive or negative. Depends on what could happen to him there =) The news about OKCoin, however, could be the perfect indicator for the end of the 5 waves advance.

    Like

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