Wave 3 complete - looks like Corrective wave 4 is hitting some kind of bottom. Hasn't moved much at this range for some time.
There was a dip below the Wave 1 top, but the Daily candlestick has kept above Wave 1 Top so far pretty consistently. Appears to be a strong support line.
Wave 1 moved more than wave 3 - wave three 1 to 1 ratio for wave 5 would put an end around 0.00139459. However it will more than likely fall short of this target since wave 1 was longer. Hitting the 0.618 to 0.786 line seems more likely.
Buy in = 0.00103
Stop = 0.00097 (seems clear a drop under here invalidates this count)
Risk = 0.00006
Target 1 = 0.00127
Reward 1 = 0.00024
Target 2 = 0.00133
Reward 2 = 0.0003
RR 1 = 4
RR 2 = 5
There was a dip below the Wave 1 top, but the Daily candlestick has kept above Wave 1 Top so far pretty consistently. Appears to be a strong support line.
Wave 1 moved more than wave 3 - wave three 1 to 1 ratio for wave 5 would put an end around 0.00139459. However it will more than likely fall short of this target since wave 1 was longer. Hitting the 0.618 to 0.786 line seems more likely.
Buy in = 0.00103
Stop = 0.00097 (seems clear a drop under here invalidates this count)
Risk = 0.00006
Target 1 = 0.00127
Reward 1 = 0.00024
Target 2 = 0.00133
Reward 2 = 0.0003
RR 1 = 4
RR 2 = 5
تعليق:
POAETH has been in a savage sidways corrective pattern for some time. I still don't think that Wave 5 has begun, though I noticed that "wave 4" tread back into the territory of Wave 1. This is either because of the fluctuating value of Ethereum throwing off the count - or could it be because we're still in wave 3 for some reason?
After reviewing the POABTC charts, I made some revisions to this chart and my projections. I know think the final price target will be closer to 0.0014 (Based on Wave 3 hitting the 1-1 extension of Wave 1). That number is near the 1-1 extension of wave 3, and the 1.618 extension of Wave 1. Good confluence zone target then.
After reviewing the POABTC charts, I made some revisions to this chart and my projections. I know think the final price target will be closer to 0.0014 (Based on Wave 3 hitting the 1-1 extension of Wave 1). That number is near the 1-1 extension of wave 3, and the 1.618 extension of Wave 1. Good confluence zone target then.
تعليق:
Broke below Wave 1 area. I'm going to take a look at the BTC chart to see if it makes more sense on there (ETH has been on a tear and may have pushed the price down), but if it doesn't, the impulse wave count is invalid. Unclear future direction if so.
Based on the wave structure, I wouldn't be surprised if it has one more push before undergoing further retracement.