#ETH = Daily Update = 03.12.2021 $ETH #Ethereum #cryptocurrency #crypto

#Ethereum is not bullish even remotely. Today it completed a very strong bearish combo and the perspectives for the weekly candle are not looking promising. Let’s evaluate.

CANDLES

Daily
Today ETH completed a Tower Top, one of the strongest bearish multi-candle formations. The combo was made on a high volume; the price dropped below 50 MA and 8/20 EMA crossed in a bearish way. The other indicators suggest a further move down.
If ETH continues down, it has a good chance to print a bearish candle or combo on the weekly frame.
Odds: Bearish

Elliott Waves
I’ve been tracking red and blue counts recently, but after today’s aggressive move I am adding one more possible option – red.

Red:
Expect a minor bounce and another drop to a new lower low. If it happens, the wave down will likely extend.

Green:
ETH is working on a bigger flat for wave B. A motive wave up could be deceiving.

Blue:
Possible rally to ATH. Low probability at this point.

The mid and long term perspectives were discussed in the monthly analysis:
https://investingangles.com/2021/12/01/eth-monthly-analysis-long-term-forecast-01-12-2021-eth-ethereum-cryptocurrency-crypto/

Good luck!

BTC Monthly Analysis:
https://investingangles.com/2021/11/30/btc-monthly-analysis-long-term-forecast-30-11-2021-btc-bitcoin-crypto-cryptocurrency-investing-trading/

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https://investingangles.com/track-record/

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