Thanks for the detailled analysis, Srezz! Just to make sure a novice like myself understands correctly, if a pull back occurs on its way to $350, perhaps at around $317, then it may lead to a target of around $231 before turning higher. If it goes lower than wave (y), the price could drop to $206/$$185/$172 levels.
RE: ETH/USD update based on Elliott Waves
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ETH/USD update based on Elliott Waves
WXY is the 3-3-3 type of a correction as supposed to ABC correction where 5 waves A is followed by 3 waves B, which is followed by 5 waves C (5-3-5 ) https://elliottwave-forecast.com/elliottwave/difference-wxy-abc-structure/
I'm showing Wave (2) (green targets) as 3-3-3 correction ((w)(x)(y)) with the last wave (y) in play (red)
Green and red targets intersect @185, that would be the target of wave (2)
However, today's performance indicates that the wave (x) is still in play and depending on where it gets terminated the targets of wave (y) will have to be adjusted upwards accordingly.
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Great, thanks!
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