We're short | 06 June 2018

Wave Analysis

As we forecasted, Ethereum pulled back upwards but is still being contained within the falling channel formation. We expect the recent rebound from the upper trend line, acting as the top to the falling channel, to have marked the end of the corrective wave (iv), and that the downward rally we're seeing now is the unfolding of the next impulsive wave (v) and should breakout beyond 498.59 and extend even lower. This view can only be invalidated in case the price breaks out above the immediate trend line, if this is the case, then we'll expect a rally upwards.

Trade Recommendation.

We're short towards 498.59

101% Double the volume