Before the fork. Continued

We are now just around 5000 blocks away from the hard-fork. There are more and more voices saying this will be “the biggest non-event”. Without even checking the charts (we will do it few minutes later) the author doubts. Every time when some opinion starts becoming mainstream, the doubt is the best reaction. Especially if you are following the sentiment and Elliott Waves are you compass in the sea of investments.

Our main count for now:ETHBTCShort

Our alternate count for now:ETHBTCShort-2

How do we decide which count is the right one? The market and the price of ETHBTC will tell us.

Once below the bottom of the green “5” – and the alternate count will be confirmed.

If we go above green “4” before making the new low, and we most probably have confirmation for the main count.

If the main count is confirmed, then we should witness a steady rise to at least 0.019. The structure (and sentiment) have to be checked when arrive there to see if there is any bullish potential left.

If the alternate count is confirmed, than we will get even more volatility. After the forming the completion of a double 5 waves (could be around 0.01550), the retrace will take place. ETHBTC should rise pretty fast back to at least 0.01720. Then the new drop can follow, below 0.01550.

All in one, the next 4-5 days will be anything but boring.

Get ready and position yourself.

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.

Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

2 thoughts on “Before the fork. Continued”

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