So this is a GREAT setup with very good R/R.
We have had a very, very long third wave coming down, and we might have formed wave 4 entirely. If this is correct, then we'll see an impulsive wave towards the level i have drawn on the chart. That is a VERY strong level, and i will close entire position if we reach that level. Fundamentals are still aligned in my opinion as the underlying value driver for Ethereum is the new ICO's and companies build on Eth tech. These companies have not shown any real life use so far, so the price is too high at the moment. Thats my thoughts.
Cheers guys!
(and feel free to comment)
We have had a very, very long third wave coming down, and we might have formed wave 4 entirely. If this is correct, then we'll see an impulsive wave towards the level i have drawn on the chart. That is a VERY strong level, and i will close entire position if we reach that level. Fundamentals are still aligned in my opinion as the underlying value driver for Ethereum is the new ICO's and companies build on Eth tech. These companies have not shown any real life use so far, so the price is too high at the moment. Thats my thoughts.
Cheers guys!
(and feel free to comment)
Watch carefully and i look to add to my position when i see confirmation.
Enjoy! :-)