Wednesday, September 28, 2022
HomeInvestment“NO, WE ARE STILL NOT THERE YET”

“NO, WE ARE STILL NOT THERE YET”


On Monday, the selloff in Ethereum reversed at a stage that marked Wave A (in purple) equaling Wave C (a standard relationship in an ABC correction) suggesting that the corrective section because the September third excessive might need run its course (see each day chart above). On Wednesday morning the rally adopted by however yesterday the rally started to fizzle out (word the Doji at P3, see 240- min chart beneath) and early this AM a pointy reversal developed that broke TDST help at 2,883.70. Though the pullback has held median line help of the newly drawn Normal Pitchfork (gold P1 by P3 at yellow circle) there was a flip in worth momentum on the 240-min timeframe. Solely a rally again above Cloud resistance at 3,170 would change our “wait and see” stance.

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