ETHUSD decline from $1348.24 unfolded as a five-wave impulse. The sub-wave of wave (3) is also visible.
According to the Elliot Wave principle, at least a three-wave move in the opposite direction follows every impulse. The correction seems to be unfolding as a simple zigzag, which is now in wave (c).
Once the three-wave move is completed, the price should resume in the direction of the impulse. So a decline below the previous low at $912 is plausible in the days ahead.
This scenario is applicable to Bitcoin and Litecoin because they're highly correlated!
What's your thought on Ethereum? Let me know in the comment.
Thanks for reading,
Veejahbee.
According to the Elliot Wave principle, at least a three-wave move in the opposite direction follows every impulse. The correction seems to be unfolding as a simple zigzag, which is now in wave (c).
Once the three-wave move is completed, the price should resume in the direction of the impulse. So a decline below the previous low at $912 is plausible in the days ahead.
This scenario is applicable to Bitcoin and Litecoin because they're highly correlated!
What's your thought on Ethereum? Let me know in the comment.
Thanks for reading,
Veejahbee.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.