ETH/USD Heading back down to complete this correction

2018年1月18日

ETH looks to be forming a rising wedge pattern which should be of the continuation type, leading to one more drop (overnight tonight, early A.M. 1/19/2018) as we complete the overall market correction. However, as we have seen many times with Ethereum, I expect this C wave to be truncated and we may only see prices drop to the low 800's tagging the 0.382 Fib retracement level before we see signs of a true reversal. Additionally, I expect the market to trade sideways for about 8-10 days leading up to the close of the first CME futures contract at the end of the month.