Please Support Small Business And Free Banking!

Ethereum (ETH): The Recent Bounce was NOT an Impulse Motive


Ethereum (ETH) bounced but not in an impulse of five waves up. The bounce looks very abc three wave style. Therefore, it was a corrective, most likely. This adds a bit of confirmation for the case of a lower low.

Fine print subwaves (purple) show a potential five wave down to complet the pattern which would bring price very close to the apex.

Longer term chart shows the MACD where the yellow line outlines perhaps one last dip prior to a breakout. Meanwhile, the higher lows stand on the MACD and the positive divergence of lower low in price.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Leave a comment

Please note, comments must be approved before they are published