we're short from the upper trendline | 03 September 2018

Wave Analysis

Last trading week, Ethereum barely rose towards our resistance trendline. We still expect the corrective wave (iv) to continue to the upperside and should bounce from the upper trendline where we'll be looking to sell the impulsive wave (v) and should break below 244.70 and should go even lower with an ultimate target at 213.40. This view can only be invalidated in case the price breaks out above the upper trendline, if this is the case, then we'll wait for a pullback to the just broken level to pick a long term long position towards 6236.22.

Trade Recommendation:

we're short from the upper trendline