The market is still correcting following the higher degree first wave of a new bullish impulse. The other day saw an attempt to break the local downtrend - a fakeout ending in a brutal rejection. My wave count suggests a triple combo correction about to start a final Z wave down, for both ETHUSD and BTCUSD. ETHUSD is also currently experiencing TTM squeezes (when bollinger bands go inside the keltner channel) on 2H and 1D - it's definitely coiled for a move. Volume has been heavily favoring the bears the past few days. Hidden bearish RSI divergence on 1D suggests the bears are far from exhausted.
Target zones at 186 and 175. After that, it should be off to the races again.
Target zones at 186 and 175. After that, it should be off to the races again.
