ETHUSD Is Still Making Its Correction.
Hello taders.
As you can see, I have labeled the first drop with (A). Because this wave completed only 1 month after 3 years impulse and such a quick drop shouldn't be whole correction. Based on this fact, (B) wave should be in the making. I draw (B) wave's internal structure as ABC regular flat. But it can make 5 wave structure, it can go much deeper rtraderetracement levels, it can spend much more time then I draw, it can make any type of corrective pattern instead of regular flat unlike my drawings. Basically, it is still very early stage in order to predict the corrective structure. If this was a fiat currency chart, I could tell you that the completion of the correction phase will take minimum 2 years. Because of the high volatility nature of cryptocurrencies 1 year might be enough, we will see.
As you can see, I have labeled the first drop with (A). Because this wave completed only 1 month after 3 years impulse and such a quick drop shouldn't be whole correction. Based on this fact, (B) wave should be in the making. I draw (B) wave's internal structure as ABC regular flat. But it can make 5 wave structure, it can go much deeper rtraderetracement levels, it can spend much more time then I draw, it can make any type of corrective pattern instead of regular flat unlike my drawings. Basically, it is still very early stage in order to predict the corrective structure. If this was a fiat currency chart, I could tell you that the completion of the correction phase will take minimum 2 years. Because of the high volatility nature of cryptocurrencies 1 year might be enough, we will see.
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