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Unlike Bitcoin (BTC), Ethereum (ETH) hasn't yet generated a lower low; but it is likely following. Similar to BTC, ETH also broke down from its wedge pattern on a D wave. The below chart shows the red subwaves of blue 5 of red C. The $461 or perhaps as low as $448 or so could mark the correction bottom. A downward wedge pattern would not be surprising.
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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
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