Hello,
ETH has lost my 1 fib extension level & now looks like ETH will hit the 618% fib retracement level, which makes the 5 up an A wave not a wave 1.
If the 5 up nuked into the 786% more quickly I would say that run up to $2,000 in August was a wave 1.
But since seeing 5 up complete I was sus on the W1theory.
If ETH would've complete 3 waves up into a 786% retrace that would've sealed the W1 theory.
So now likely we are in a daily TF zig zag and should look like this chart I'm sharing.
ETH has lost my 1 fib extension level & now looks like ETH will hit the 618% fib retracement level, which makes the 5 up an A wave not a wave 1.
If the 5 up nuked into the 786% more quickly I would say that run up to $2,000 in August was a wave 1.
But since seeing 5 up complete I was sus on the W1theory.
If ETH would've complete 3 waves up into a 786% retrace that would've sealed the W1 theory.
So now likely we are in a daily TF zig zag and should look like this chart I'm sharing.
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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.