Ethereum (ETH): Ready for Wave 3?
SUMMARY
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Ethereum (ETH) is following Bitcoin and has broken out of the downward wedge (blue lines). Could the correction end before completing the minimum run to $461? If ETH follows Bitcoin (BTC) to the upside, yes. The chart below shows the final five of blue 5 of red C waves complete. The price breakout is also being carried out in an impulsive manner (purple) and that's a good sign.
Now, look at the recent five wave up (white) and the current ABC correction which is forming a bull flag. The five waves up are actually subwaves to a higher degree of trend blue circled 1. The current correction are the subwaves to blue circled wave 2. IF this is correct and price breaches the upper purple trendline of the bull flag in an impulse seuence; then the very bullish blue circled wave 3 could onset.
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I always feel like people are doodling on these graphs they way Steve Madden doodled on football plays.
There is then this unbridled hope that the doodles will align with reality.
Not to say I'm not ultimately optimistic, and I am sure there is a lot of thought and care in these analyses, but sometimes they just seem like people playing with tarot cards or staring at tea leaves.
will ETH come back to $400?
You have been pitching wrong technical analysis since day one. Please stop wasting peoples time.
OMFG Ethereum will reach all time highs already in august?!
What will happen with EOS in august?
Fun times await us ahead :)
after eos finish selling the ethers they own then price will go back up
Thanks, very good post.
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Good post Im very optimistic about ETH. Thats one of my main crypto in my porfolio. But what if Vitalik Buterin will accept job offer from Google :))))
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About a week ago ethereum block size reached 1TB. Not much was said about this but being the public blockchain like it is, this could complicate the mining costs longterm. Casper and the plasma network could help this if they are implemented effectively.
Im rooting for ethereum its a good project.
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