Ethereum - Struggling to break downtrend

5 Mar 2018

Guys i refused most of you to buy ethereum ( in fact asked you to sell it ) ones that downward elliot started ! Though being a lover of ETH i posted several times on fb not good times for ETH ! You can see clearly it could not break those parallel lines ( downward trend ) ! It has got a lil support of 50 EMA but is below 200 EMA ( which is powerful resistance) If it falls below 50 EMA it will fall back to .5 retracement level ! If it gets above 200 EMA then game starts ! bcz it will have combined supports of 50 EMA and 200 EMA which will lead us out of this downtrend and finally to a huge rise ! I posted many times when it tried to test this downtrend lines ( but always tested and failed) ! Now if we get both supports we can hope of a new journey from there ! Also Bitcoin is running like bull ( when it rose from 6k to 9k i posted a graph on timeline claiming its elliot will take it to around 12.5k to 13k usd ... 12.8k being one of major resistance ! ) So when bitcoin long elliot ends and starts ABC correction many things will change ( to some extent dominance of small coins will increase - EHT , LTC etc are not small coins though ! ETH was busy in completing its downward elliot wave cycle) . Anyways The lowest point we made in ETH here will act as starting point of a long elliot ( which we will configure soon ones get out of downtrend) ! Keep watching if it breaks the trend because we should start our trade from there ! And guys you can change another scale or use other scale ( you may find it lil compressed like - while some other graphs of mine u may find lil expended - i work here just to clear concepts guys ! hope all these things you people don't mind ). I already told people to sell it when this downtrend started but anyways remember this year will be lot good for ETH ! Love corrections !