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Ethereum Daily Crypto Analysis (4th December, 2018)

Ethereum is similar to BTC, so if we respect correlations, then even ETH can be slowing down in wave »iv« correction which can be either a flat or a triangle, a continuation pattern, so watch out for another, maybe the final wave »v« of 5 towards 80-70 next support/bottom area. However, at the moment we don’t see any bullish shreds of evidence, but if we get sharp and impulsive bounce followed by a break above the 191 region, then we may consider that the bottom may be in place.
We understand that there are a lot of traders and investors waiting on a bottom to form, but for now, that’s not the case yet so we have to respect what the market is doing. But we, of course, would aggressively shift back to bullish mode once we see an impulse up from the low – this is key for any change in trend, in any market.
Ethereum Daily Crypto Analysis (4th December, 2018)
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