ETHBTC Can Be In The Final Stages Of Correction

ETHBTC looks pretty clear with five waves up from lows and regular 3-3-5 three-wave A-B-C correction. ETHBTC currently trading in wave (4) of C from where we expect another decline into wave (5) of C towards 0.070 psychological strong support level, where ETHBTC may come to the end of correction. Just keep in mind that we need impulsive five waves up from that projected support and break above 0.100 level to confirm bullish reversal!

تعليق:

Hello traders, ETHBTC didn't hit our projected support yet, so we remain bearish. We can see a small recovery, probably in wave (4) of C, so we expect another push to the downside for wave (5) of C towards projected 0.070 level. But, If ETHBTC from any reason goes sharply higher above 0.10 level within five waves up, then temporary bottom at 0.077 level after three-wave decline can be in place.

تعليق:

And there it is! ETHBTC approaching strong support at 0.070 level for wave (5) od C.

تعليق:

Hello traders! BTC is still slow and slightly higher. We took a look on some xxx/btc crosses and many of them are close to support, which means that bounce may occur soon. One example is ETHBTC and on this correlation chart you can clearly see a negative correlation and also you can see what may happen with BTCUSD, when ETHBTC find support.