Had to buy some ETH today - here is why:

ew-and-patterns(71)

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UPDATE: Nice one:

If I would only look at this chart and ignore the entire crypto market (e.g. treat ETH like a single stock), this would be a screaming BUY!

We have fractals with a major uptrend line being retested right now:

And we have a bullish wave count to support it:

So in total, what I want to say here is, that ETH might be leading the next rally. It might also signal that the downtrend in BTC is done as well like this:

It will take a few weeks to be more sure about it, and I don't think it is very likely right now, but it is always good to be aware of a "surprise, surprise" scenario.

My gut tells me that 90% of people are expecting more pain to come now that the old low @ 5920 is slightly breached. So we likely have a bearish sentiment and a double bottom @ 6k. That could lead to an unexpected outcome... stay tuned...

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DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.