Ethereum ETHUSDT - Millennium Elliott Wave + 200 weekly MA!
- As per my Elliott Wave analysis on the weekly scale, we have 2 impuls waves successfully completed and now we are missing the final impulse wave!
- ABC correction (Wave 4) can be done, because wave 4 should not overlap the first wave.
- 200 weekly moving average is currently acting as a very strong support!
- Also the price is currently sitting on 0.786 fibonacci retracement.
- If you take a look at RSI indicator, you can spot a bearish divergence from previous waves, which helps us to identify the Elliott wave structure.
- Looks like the bear market can be over and we are ready for another massive bull market!
- Check my related analysis for Bitcoin down below!
- ABC correction (Wave 4) can be done, because wave 4 should not overlap the first wave.
- 200 weekly moving average is currently acting as a very strong support!
- Also the price is currently sitting on 0.786 fibonacci retracement.
- If you take a look at RSI indicator, you can spot a bearish divergence from previous waves, which helps us to identify the Elliott wave structure.
- Looks like the bear market can be over and we are ready for another massive bull market!
- Check my related analysis for Bitcoin down below!
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