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ETHUSD bears in charge: Short tf (4hr) analysis

For those interested in my earlier post concerning EthereumUSD in a bear channel and projections, the post can be found here.

Ethereum 4hr analysis

The chart above shows an Elliott wave analysis for EthereumUSD. Price close of $672.10 on the 4hr tf has been identified as a possible Minute wave ((i)) position. It is possible that minute wave ((ii)) is not yet complete which is why I have put a question mark next to it. The implication of the above is that once minute wave ((ii)) is complete, ETHUSD should resume selling off in what would be minute wave ((iii)).

Target for the sell off could be a projection of minute wave ((iii)) = 161.8% minute wave ((i)). However I have not calculated this because it is possible that minute wave ((ii)) is not yet complete.

POI = Point of invalidation at which the analysis requires revision

 

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