ETHUSD IN A TEMPORARY PAUSE, BEFORE A DROP - ELLIOTT WAVE

Hi Elliotticians, ETHUSD is trading similar as Cardano, however here price can still be unraveling a possible triangle correction in wave 4, which means, wave 5 lower can still be in the cards. That said, a five-wave, a-b-c-d-e contracting move needs to be seen in fourth wave, before a triangle may be regarded as completed. Also a new impulsive drop would confirm a completed wave 4 and wave 5 to be underway.

Take care.

Kommentera:

ALT scenario, where we labelled a completed fourth wave would be in play, if price makes a sudden impulsive decline below the 3142 mark.