ETH USD - Wave and Chart analysis
Correction wave ABC saw a bounce off the Pivot support with a Bullish Divergence on RSI, MFI and Stochastic RSI. A new broadening wedge pattern has developed that gives us a very good idea of bounce off points. We can see the old bullish trendline on the daily has caught up at 190 (Blue) where I place a potential end of Wave C but also noting that Elliot wave 3 was the strongest impulse so far we can also have a bounce off at 220 zone.
Whoever bought today take profits at the local pivot the price is gonna go down to the green zone soon.
Buying at 200 targets at 380 for Broadening wedge. Expect reversal at one of the two green zones.
Whoever bought today take profits at the local pivot the price is gonna go down to the green zone soon.
Buying at 200 targets at 380 for Broadening wedge. Expect reversal at one of the two green zones.
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