Ethereum ETH - Feb 2 Technical Analysis - Correction Target $720-$770
FEB 2ND UPDATE - CONGRATULATIONS EVERYONE. WE HIT $768, $2 OFF TARGET
Correction Target - $720-$770.
Correction Time Frame - 7-16 days
Long Term Bias (6+ months) - Bullish
Medium Term Bias (1-2 weeks) - Bearish
Short Term Bias (Today) - Bearish
Long Term Target Prediction - $1,750+ by September
This is my rough wave count, with varying targets of subwaves, but the main correction target stands. We target a high activity and price action region with strong volume, and in this case is near the 0.5 fib region of the entire primary wave [1].
Here is an alternate count assuming a possibility of ABCDE within A-B correction:
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
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I guess the bears have come :/
in a big way i hope i'm wrong :)
hhahahahahahahahahahahaha! im just trying to play this game long term and learn stealthier ways to profit as the bull matures.
i do hope you're wrong.
Waiting for the dip around 720 !!!! to buy :-)
Great work as always! Here is my upvote! Hope it helps :)
thank you for the support!
Thanks! In your alternate count chart above with ABCDE path, I’m often having difficulty to tell if the DE is just a 12 of a 12345 downward of C in the first chart. Is there a way to confirm either way? At which point we can assume either way is true at the earliest?
Count the subwaves. If "DE" has 3 subwaves within each leg it is a ABCDE. If "DE" has 5 subwaves within each leg, then DE should be counted as 12.
How is it confirmed if something is an ABCDE correction or a WXY/WXYZ correction?
counting waves precisely.
Looks like a channel if you draw parallel lines from AC and B1 (1st draw.). Although that would be highly optimistic to suppose support there.
Do not worry whether a crypto goes up or down learn to ride it like a cork does a wave.
Hey Phil, you rock! xx Mayweather
Hey phil. Love your content. I'm always looking forward to it on steemit. Give me a follow please. It'd mean a lot :)
thank you!
Thanks for your insight! I enjoy your videos and always upvote you :) Can you look at XRP & BCH