crypthereum
The ether is currently in a triangle. To me this seems to be a wave four in the first wave one. If he leaves the triangle upwards, which can take 1-2 days, the target is up to 1000$. This would then also be the 68% retracement of the entire downward movement since January.
Here's my long term Elliott Wave count on Tron. This is also the reason why I am so bullish on Tron. The increase since the beginning of April looks impulsive to me, not corrective. And even if it looks like a correction to $0,060 (worst case) in the short term, my price target is over $1 by the end of the year. Prices below $ 0.052 would be very bad. This would...
I'm always amazed at how powerful cryptos are. Especially in wave 5, the good thing is that a big cycle wave 5 is probably running right now. I underestimated wave five of the first wave in the last analysis. I was very surprised by prices over 630. And maybe there's still an overshoot. But I'm sure Wave Two will come. And this will be a good chance to get in.
My current EW count on ETH, wave 1 will be completed soon.
Could it be that eth is repeating the same course pattern on a smaller scale?
Support and resistance for the next few days
An update of my main scenario. If the ETH course succeeds in overcoming the resistance (pink line), we could expect new tops. But before that a short selloff is possible at any time (if prices are below $700, I'll be bearish).
That's how I see the Ethereum course right now. We are stuck in a "segment", with a decreasing resistance. I expect that we will overcome this resistance and see new tops. But beware, there may be a selloff again. I would use it to build up new positions. Following the motto: "Try to catch the falling knife" xD
We're currently in a correction wave 4, and once the 5 goes off, the potential is around $1,600. After that, a major correction is expected from the end of January.
I see a cup with handle so I opened a small position on the PAY token...