Ethereum is completing the final wave of an ABC correction. In fact, it's on the 5th subwave of wave C. It is only a matter of time before Ethereum starts impulsing. In addition, we see bullish divergence, and the volume picking up.
This correction is only temporary, and we need to take a look at the big picture to see how high Ethereum can rise to. We should not panic on these corrections as this will only look like a dip once the price starts impulsing. We have not yet completed the fifth and final wave. Due to the bullish nature of cryptocurrencies, the fifth wave often exceed our targets.
Entry: $600-$750
Stop: $400
Conservative Target: $1600
Expected Target: $1900
Aggressive Target: $2000+
Time: Up to 5 months
This correction is only temporary, and we need to take a look at the big picture to see how high Ethereum can rise to. We should not panic on these corrections as this will only look like a dip once the price starts impulsing. We have not yet completed the fifth and final wave. Due to the bullish nature of cryptocurrencies, the fifth wave often exceed our targets.
Entry: $600-$750
Stop: $400
Conservative Target: $1600
Expected Target: $1900
Aggressive Target: $2000+
Time: Up to 5 months
註釋
The Buy Zone of $600 is derived from a 1 to 1 Extension of Wave A. In the world of cryptocurrencies, wave C rarely exceeds the length of Wave A by much. The Stop Loss Level, is just below the peak of Cycle Wave 1.註釋
We have to see if Ethereum can break the symmetrical triangle on the ETH/BTC pair. If it breaks down, and Bitcoin continues to tank, we could see another low on Ethereum.
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