The last drop in ETH and we are done

That took some time before the author can say that – “the last drop..”

Let’s go directly to the charts:ethbtclongGreen Elliott Waves count is exactly the reason why we might still need one more bottom. Wave 5 isn’t completed yet.

The target lies somewhere around 0.006. Hopefully that will generate finally the almost complete capitulation and ETH can finally grow through the “wall of constant worry”. One might expect some unpleasant and unexpected “bad” news for ETH too. What exactly it will be, no one can say for sure, but there must be something depressing…

This “bottom-making” process should also correspond with the last few pushes up in BTC. After winning the battle for $800, that would be strange if BTC won’t try the best to conquer the $1000 too. Here, however, the crowd mood decides everything. As long as there are doubts and worries (as we have it now), we have some “fuel” for the price to increase. When these last voices are gone and the strong believe in the bright (dominant) future of BTC is here, we will announce the BTC top officially..

By the way, the “wishful” thinking in ETH crowd regarding the double bottom is one of the reasons why the author believes we need yet to dive below the last low one more time.

Have nice holidays !

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

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s