METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Actions on:
*Activating Event*
-Elliott wave Theory: Eth currently completed a wave 5 combo with a Elliott triangle, where section (E) has bounced from a support Trendline. First i would be looking for a A,B,C Correction, However, If we formed a double Bottom pattern I will be looking for a Impulsive wave 1-5.
-Market Sentiment: Overall Bearish, I used news, Tradingview chats and Youtube.
-Fibonacci level: at 1.618
-Pattern Formation Falling wedge.
-Bullish divergence: today we have done a new low, but RSI closed at higher level.