ETHEREUM IN COMPLEX CORRECTION ?
Following is ETHEREUM analysis
1) The major five-wave Elliott wave coming from 2017 ended MAy 2021
2) Wave 2 corrected W1 by almost 85-90%
3) W3 started and had a good 161% fib extension of W1 to 2599
4) W4 is simple correction and retraced only 23% as W2 had a deep correction
5) W5 ended at 4367
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A-B-C corection
In a complex A-B-C correction
W(A) is a 3 wave
W(B) is a 3 wave structure and usually ends above W5
Wave(C) is a 5 wave and drastically drops to the start of W(B)
I hope to be wrong but lets see what happens in the next few days
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(Or)
Maybe Wave 3 can be where w(5) ended and we are in a W(4) correction phase and once thats completed we go on W(5)
Love your feedback - happy trading
1) The major five-wave Elliott wave coming from 2017 ended MAy 2021
2) Wave 2 corrected W1 by almost 85-90%
3) W3 started and had a good 161% fib extension of W1 to 2599
4) W4 is simple correction and retraced only 23% as W2 had a deep correction
5) W5 ended at 4367
------------
A-B-C corection
In a complex A-B-C correction
W(A) is a 3 wave
W(B) is a 3 wave structure and usually ends above W5
Wave(C) is a 5 wave and drastically drops to the start of W(B)
I hope to be wrong but lets see what happens in the next few days
-------------------------------------------------
(Or)
Maybe Wave 3 can be where w(5) ended and we are in a W(4) correction phase and once thats completed we go on W(5)
Love your feedback - happy trading
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