SUMMARY
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Ethereum (ETH) subwaves are likely completing blue wave 4 as can be seen in the below chart. The pattern that seems to be emerging is an upward wedge (white lines inside circle). If so, then blue wave 4 is not yet complete and the purple arrow outlines the pathway to complete the abcde microwaves. Given that the Head & Shoulders decisively confirmed and the minimum downside target is $461 to $481 or so; I believe a lower low is needed to complete the correction.
From a longer term perspective, the correction is actually forming a bull flag, as outlined by the purple parallel lines. This is quite similar to the actions of Bitcoin (BTC). This type of how a part of the Head & Shoulders pattern also contributes to the bull flag formation is quite interesting because it acts like a hand off. I don't think the correction is complete until the 0.781 Fib level; however, if price decides to turn up and surge before.....great!
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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stop rewarding haejin hes raping the reward pool
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Bring on the gains. Ethereum will one day be worth way more
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Ethereum has 30x more devs than the next blockchain. The train has already left the station with #ETH.... just keep on accumulating on the dips. Fortune 100 companies heavily invested in private Ethereum blockchains.... Enterprise Ethereum Alliance developing protocol stacks to interconnect it all.
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Hello,
I was wondering if we could discuss the reasons why you have flagged me over 60 times today and why you flag so much in general. We can discuss this wherever you'd like.
Best wishes.
Love,
@moeknows
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Coins mentioned in post:
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I think Ethereum will reach to the door of Bitcoin..
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Thanks for the ETHEREUM update, can you do Icon (ICX)?
@haejin for the win!
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For traders your post is very marginable and very helpful to trading new coin in market its price everything about cryptoworld your post can guide better and the way you are analysis the price worth its better way and more easy than other post ethereum coin is raising its ptice related to bitcoin i think your chart specially easy to understand nice post with lot of information
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I've just started learning how to trade CC and I find your posts extremely helpful. I can see a big correlation of ETH and BTC myself. I don't know much but is it possible that traders are checking the price of BTC when trading ETH? Or is this just my imagination? :)
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images loading.....
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good analysis
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AWEsome
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nice content
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Sad to see you leave SteemIT, how much does you charge users per month on your new platform?
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For trading advice and to hire a iot specialist
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