Crypto Bottoms 2: ETHUSD 4 Hr

30 באוק׳ 2018

Continuing on from my "Crypto Bottoms 1" idea (linked), here is a setup calling for a less drastic sell-off. This midpoint formed all the way back on Sept. 17 (yellow circle). Why am I still following it? This wave has yet to completely play out by reaching the target of $185 (0% fib level) and price has proven that this setup may still be valid by taking a "detour" to briefly touch and respect the 161.8 extension perfectly (red circle). A rather unexpected and drawn out affair but such are the current market conditions we have to contend with.