Ethereum (ETH): Impulse Down Expected

SUMMARY

Here is Ethereum's (ETH) short term chart with updated Elliott Waves. It seems as blue A and B are now complete and C has started. The subwaves of C show that waves 1 and 2 (white) are complete and if that's the case, then wave 3 down is next. Since wave 3's personality is that it moves most violently, it could be a bit scary and unnerving for the unaware. The key is complete the blue wave C.

On the bigger picture, the bull flag just looks more and more developed as the days pass. The red ABC could potentially evolve into an ABCDE; but given that the red C is at the 0.618 Fib zone, it's less likely. However, if the D and E waves are required, price could then retrace to the 0.78 Fib zone.

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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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