The previous post for the 4 hour timeframe Elliott wave analysis of Ethereum classic can be found here:
This post provides an update. Price swing currently from the end of minor wave 3 (in red) up to ~$20.79 has been identified as a minor wave 4 position.
Ethereum classic based on this analysis is therefore in a minor wave 5 position. The implication of this is for Ethereum classic to close lower than $14.51 (the termination point of minor wave 3) before any bullish move can be sustained.
Point of invalidation (POI) for this analysis is a price close above minute wave ((ii)) of minor wave 5 i.e. $19.32, before Ethereum classic closes below $14.51.
This post provides an update. Price swing currently from the end of minor wave 3 (in red) up to ~$20.79 has been identified as a minor wave 4 position.
Ethereum classic based on this analysis is therefore in a minor wave 5 position. The implication of this is for Ethereum classic to close lower than $14.51 (the termination point of minor wave 3) before any bullish move can be sustained.
Point of invalidation (POI) for this analysis is a price close above minute wave ((ii)) of minor wave 5 i.e. $19.32, before Ethereum classic closes below $14.51.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.