$ETH
Added 2024-12-19 20:58:08 +0000 UTC$ETH did not hold the $3700 support line at the top of the triangle and the flush down has brought the price action to the 50 Day MA, which is also the 0.38 Fib at $3340
Weakness is shown now below the $3700 level so we need to see where support can hold next
I won't consider trimming while we are above the 50 Day MA but I am more inclined to just stick with $ETH either way until it makes a new ATH but I am more than comfortable with holding through pull backs.
If $ETH does lose the 50 Day and 0.38 Fib, then the next levels at the 0.5 Fib at $3100 and the 200 Day MA at $3000
Wave 5 hit the previous high and the 2.618 Fib and pulled back, we wanted it higher but Wave 5's are Wave 5's and the price action has respected all important Fib levels to that point
If we need to complete an ABC correction then I am ok with that, as long as it respects the Fib levels on the way down too.
