Elliott waves crypto analysis – We’re short towards 500.30.


We're short

Wave Analysis

Perfectly as we previously forecasted, Ethereum corrected itself after a break below 569.37 but could not close above this retracement. This is a key intraday level and as long as the price remains below it, we expect a possible rally to the lower side. You should already be in a short position now, however, if not, then wait for a correction towards 569.37 to pick a low risk short position. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below 515.50 towards 500.20 or even lower.

Trade Recommendation:

We’re short towards 500.30.

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