ETHUSD IN A BIG THREE-WAVE MOVE - ELLIOTT WAVE ANALYSIS
Hi Elliotticians, ETHUSD is moving nicely.
A completed impulse in A or 1 down from 3581 mark, followed by a completed correction in B or 2, and latest sharp and impulsive decline can be a wave C or wave 3 in progress, if price declines even lower.
Wave C can still be unfolding its minor corrective wave iv, which means one more leg lower as wave v of C can be seen, before market turns to the upside for a minimum three-wave move. Wave C can in current, primary view look for support at the lower parallel ccorrective channel line. That being said, if price continues to trade higher from current levels and in impulsive manner, then wave C can already be completed at current low, and a minimum three-wave recovery already underway.
Trade well.
A completed impulse in A or 1 down from 3581 mark, followed by a completed correction in B or 2, and latest sharp and impulsive decline can be a wave C or wave 3 in progress, if price declines even lower.
Wave C can still be unfolding its minor corrective wave iv, which means one more leg lower as wave v of C can be seen, before market turns to the upside for a minimum three-wave move. Wave C can in current, primary view look for support at the lower parallel ccorrective channel line. That being said, if price continues to trade higher from current levels and in impulsive manner, then wave C can already be completed at current low, and a minimum three-wave recovery already underway.
Trade well.
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