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RE: ETHUSD - Technical Analysis November 14, 2017 - Current Price $325

in #ethereum7 years ago

Thanks for this. But i At least 2 weeks there is resistance around 345-350. Strong resistance ı think. According to elliot wave principle Ethereum correction is still contunie. And this type of correction is really rare. Zigzag, and Triangle combined correction.

And this is the Combined correction.

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Takes time, I tend to look for broader pattern nd think a pennant can be drawn here. doesn't denot direction per se. Just that explosive move comes - will be interesting. I prefer to play the channel than predict outcome. Also 350 is psychological level, will be tought not to crack.

I dont think so. I dont believe psychological levels. ATH for ETH is 400 so 350 could not be psychological level. I always trade with trend. But now ı ı can not see any trend on ETH. The correction is still contunie. I am waiting to buy some ether when it becomes to uptrend again.

round numbers are psychological in trading always -- but especially in crypto.

I mean ATH 400 $, so 350$ cant be psychological level now.. But 450$ can be. I have very different system my friend :) I am trying to learn astrofinance at the moment . I am working to understand william d. gann's theory. so classical TA is different for me. but I respect you on your way :)

By the way ı am here to learn something new. So thanks for your sharing.