ETHEREUM ETHUSD UPDATE -- the corrective move down lower is likely FINISHED, setting up a buying opportunity
May 29, 2018
ETHEREUM has been following the expectations and here is the latest chart.
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In my previous blogs, I had stated that I was looking for a tag of 550 or the 498 levels, and there was a bounce from 550, which was followed by a low into the 500 level. Seems that this could be the LOW and that the uptrend should likely start from here. This is a good place for wave 2 to bottom, and there are nice divergences in the C-wave of wave 2 to raise confidence that this indeed could be the end of wave 2. We should now see rapid and fast increase in price, for wave 3's, which follow wave 2, are fast and furious.
Previous expectations are laid out in my blogs given below for ease of reference.
OnMay 24th, I wrote this blog:
https://steemit.com/ethereum/@phisight/ethereum-update-a-corrective-move-down-lower-is-likely-finished-setting-up-a-buying-opportunity
where I presented this chart:
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May 15th: https://steemit.com/ethereum/@phisight/ethereum-following-the-expectations
Hope this analysis was/is/will be helpful!
Note: you can right-click and open charts in new tab to see them at full size -- they are quite large and clearer when expanded.
