ETH the prince is falling
Hello Everyone.
In this chart, I plotted what I expect to happen next for Ethereum. Although some were expecting ETH to outperform BTC, the reality is that alts are often topping after BTC, so it was following a similar pattern to the king. There was a fake-out at the All-time high, signalling the reverse trend. From there, ETH has formed the first primary wave of wave C. I expect this Flat correction to end around the end of March, with eth going to 1650. There is a very small chance we may even see 1400 if the wave turned out to be more violent. This won't happen in a straight line. There will be a relief bounce around 2200 which will likely push eth back to 2700. After that, ETH will then head to 1650.
Although I tried to be as accurate as possible as the price chart update in the future, I will be more precise. However, I am pretty fund that we will see 1650 by the end of March.
This Hypothesis will be invalidated if ETH manages to break back above 4000.
Nevertheless, you can also appreciate that this idea agrees with the Elliott wave channel that I have drawn (thick black lines).
The good news is that after this painful correction, I expect Ethereum to top out at 20k, which has always been my final target. The timeline has only been delayed.
FAs always, make sure you use the proper risk management and place your stop losses. In the market is not essential to be right but to make money and preserve your capital in case you are wrong.
FOLLOW ME, SHARE, LIKE AND COMMENT
In this chart, I plotted what I expect to happen next for Ethereum. Although some were expecting ETH to outperform BTC, the reality is that alts are often topping after BTC, so it was following a similar pattern to the king. There was a fake-out at the All-time high, signalling the reverse trend. From there, ETH has formed the first primary wave of wave C. I expect this Flat correction to end around the end of March, with eth going to 1650. There is a very small chance we may even see 1400 if the wave turned out to be more violent. This won't happen in a straight line. There will be a relief bounce around 2200 which will likely push eth back to 2700. After that, ETH will then head to 1650.
Although I tried to be as accurate as possible as the price chart update in the future, I will be more precise. However, I am pretty fund that we will see 1650 by the end of March.
This Hypothesis will be invalidated if ETH manages to break back above 4000.
Nevertheless, you can also appreciate that this idea agrees with the Elliott wave channel that I have drawn (thick black lines).
The good news is that after this painful correction, I expect Ethereum to top out at 20k, which has always been my final target. The timeline has only been delayed.
FAs always, make sure you use the proper risk management and place your stop losses. In the market is not essential to be right but to make money and preserve your capital in case you are wrong.
FOLLOW ME, SHARE, LIKE AND COMMENT
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