Ethereum is in a very tricky spot being the only high-cap coin that appears to be moving up impulsively. As a result, I would have to say that this is a no trade zone for me personally. However, the potential for upside simply isn't worth ignoring - so if the rest of the market begins to look stronger towards the upside, I'm all in for a long trade in ETH.
In my opinion, it's extremely difficult to see this as anything other than 5 waves. Therefore, it is the start of something or the end of something. Following a downside correction, it would have to be the start of something. The only clear count that I can see coming out of this is an impulse targeting $650 - $750 as the 5th sub-wave of a Macro 3rd wave. Let's see how it continues to unfold, but as of now, Ethereum appears to be setting up for domination in September.
I plan to make a Macro count for Ethereum over the next few days.
In my opinion, it's extremely difficult to see this as anything other than 5 waves. Therefore, it is the start of something or the end of something. Following a downside correction, it would have to be the start of something. The only clear count that I can see coming out of this is an impulse targeting $650 - $750 as the 5th sub-wave of a Macro 3rd wave. Let's see how it continues to unfold, but as of now, Ethereum appears to be setting up for domination in September.
I plan to make a Macro count for Ethereum over the next few days.
