kseeley1083

ETHUSD Fibs Elliott Wave Bollinger Bands RSI MACD

Long
POLONIEX:ETHUSDT   Ethereum / Tether USD
Proven to be a pillar, ETHUSD has just completed it's strongest upward trend by completing the 5 number Elliott Wave and a 3 letter retracement over the course of the last month. I believe the "C" line finished dropping this morning due to an aggressive fallout of the RSI with "oversold" being exploited, not to mention briefly breaking the psychological $1000 mark. Pricing quickly jumped back up as the MACD showed strong volume for this morning's drop, almost as if the market is looking for a quick turnaround on this correction and working towards the next upward trend. Looking to the structure of 3,4,5 and A,B,C resistance/support lines can be seen matching up with Fibs of .382 and .5. I am humbly predicting that we will be dancing in between the 1st support/resistance area for the majority of the week, with a push near the weekend to the 2nd support/resistance area just before jumping onto the next upward trend that will blow by the $1400 mark early next week. As always, best of luck, and please understand that I am not an investment professional and this is in no way investment advice, just simply a humble opinion. Thank you!

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