All other fundamentals look amazing right now, ETH is waiting for BTC to give the green light.
- Enter 295; or hidden buys just above 300
- Stop below 290
I realize that the larger ABCDE's are banter and not actual EW, I was just trying to find patterns.
--- This is my view, no financial advice, and I have little to no TA experience.
Spread those wings, feel the air flow underneath...
Following play is active:
- Small hand in hidden orders above 300
- Playing any bounce around 278, or even 255-260 level.
Eyes on the king.
The latter would mean that wave 5 is still ahead. Hence, ETH's confidence.
Trade automatically activated at 301 while I was having my winter sleep.
Here are two more ETH ideas, comes down to the same thing; long.
Why does this matter? ETH is currently 44% BTC, meaning that as soon as BTC goes up BTC flows out of ETH as it provides more profitability.
Also, there are many ETH/BTC longs underwater about to be liquidated (if they haven't already).
Lastly, BTC looks like at the end of its distribution phase, if it does have a correction then it will be massive and ETH will most likely be torn down into a frenzy sell too.
It seems like ETH can't win, confirmation of large BTC waves ahead + sideways is the only thing that will make ETH turn bull again.
- Entering again when BTC enters its B wave, I can already smell the news referring to BTC as a bubble, fraud and Myspace; while ETH is Facebook with corporate alliance backing it. --- Be ready boys. ; or
- My BTC count is wrong, it continues bullish, stabilizes sideways with only minor corrections; in this case, I'd add ETH after a 311 or 322 breakout.
Unlikely, but may the Lightbringer have one last rebellion.