Ethereum (ETH) Daily Update: A Case for $326 to $295

SUMMARY

A correction bottom is not an event but a process. To that end, the below chart shows that the blue wave 5 of red C could still be in the range of $326 to $295; bringing it that much closer to the apex. This also means that the MACD will likely take one more small dip and probably not decisively breach the lower yellow support line.

The blue Elliott Waves show that the final blue 5th is in play. Subdividing this blue 5th shows a bit more finer detail. White wave 1 is thus far complete and 2 is in progress. While the process of white wave 3,4,5 of blue 5 of white (5) of red C carries on; the target range is likely to generate an incremental lower low.

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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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