Let’s try to be as objective as possible

The author was watching the charts very closely the last days. On a screen and also in his mind.

Mainly because of his call for BTC to rise, the short-term picture for ETH wasn’t rosy. That’s why to say yesterday that the new low on ETH is very likely was relatively easy call. But where do we now? Will ETH start rising from the current level? Will we get to the new ATH?

For these questions to be answered the author asked for some time to go through deep meditations. Meditation is the best way to be as objective as possible.

And here what the author has to share now.

Basically we can see two possible counts:

The first:ETHBTCMidTerm

And the second:ETHBTCMidTerm-2

IF ETHBTC will make the new low and before doing this won’t touch 0.02940 on the way up, then the wave a-b-c down from the 0.03430 will turn into the clear 5 down. With two consequences:

  1. ETHBTC will rise again to somewhere around 0.030
  2. And then will drop again to somewhere around 0.023

Will see if this is what will happen on a short-term basis.

As we follow this path, the author hopes to get enough information to see which one the mid-term count is real and which one is obsolete.

Stay tuned, the next update will be on saturday.

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

3 thoughts on “Let’s try to be as objective as possible”

  1. bitcoin increased? check.
    ehter dropped? check.

    Great calls again! Curious obviously for your take on how the waves will take it from here.

    Like

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