Applying basics of Elliott Wave Theory on ETHBTC.
Wave 1,3,5 affect the direction of the market.
Wave 1 is usually in form of a leading diagonal.
Wave 2 is 50% or 61.8% of wave 1 and it never moves below wave 1. (corrective)
Wave 3 is 161.8%-261.8% of wave 1 and is an impulse and never the shortest wave.
Wave 4 is usually a flat, triangle, or combination thereof.
Currently, we are in a corrective wave (4) in form of a running triangle.
Wave 5 is 100% of wave 1 or 161.8% of wave 4, impulse wave.
Wave 1 is usually in form of a leading diagonal.
Wave 2 is 50% or 61.8% of wave 1 and it never moves below wave 1. (corrective)
Wave 3 is 161.8%-261.8% of wave 1 and is an impulse and never the shortest wave.
Wave 4 is usually a flat, triangle, or combination thereof.
Currently, we are in a corrective wave (4) in form of a running triangle.
Wave 5 is 100% of wave 1 or 161.8% of wave 4, impulse wave.
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