Today’s move by $ETH sent one clear message – if ETH is going down, it is not doing it in a motive fashion and the correction continues. So far I will be tracking 3 possible scenarios.
- Green (primary).
Wave A was a zigzag. Wave B will be a more complex flat, possibly filling a rectangle. Wave C – down.
Triangle (b) after wave (a).
So far, the wave off the recent lows has not made a motive structure and I am viewing it as a possible diagonal to ATH.
The wave is still developing and there is no clear signal about direction.
The long term candles are slightly bearish and most likely we would have to wait for the weekly closure for clarity.
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