Ethereum is in a massive ABC correction. We are now in C wave which is broken down into 5 waves, which follow the impulse schematic of Elliott Waves Principles.
We are currently on the 5th wave, which is also broken down into 5 subwaves (red numbered brackets). We are currently on the 3rd SUBwave and expecting a 3rd minor wave lower.
Trade idea:
- Watch for the 2nd minor wave correction to breakdown (red trendline break)
- Enter with stops above the correction
- Targets: 880, medium term target of 700 and then 600
When we're on the 5th SUBwave, we can look for any reversal patterns to get in on the next bull run!
See below for our last Ethereum analysis which played out perfectly
We are currently on the 5th wave, which is also broken down into 5 subwaves (red numbered brackets). We are currently on the 3rd SUBwave and expecting a 3rd minor wave lower.
Trade idea:
- Watch for the 2nd minor wave correction to breakdown (red trendline break)
- Enter with stops above the correction
- Targets: 880, medium term target of 700 and then 600
When we're on the 5th SUBwave, we can look for any reversal patterns to get in on the next bull run!
See below for our last Ethereum analysis which played out perfectly
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