The price of ETHUSD is still trading inside of a corrective zone below the golden trend line. There is still wave B to the downside missing and wave C to the upside missing as well. The first projected target for wave B of a higher degree cycle is at the level of $1,000 - $1,100, but this wave progression might evolve into more complex and time-consuming cycle. Please notice, the overall ABC corrective cycle of the higher degree hasn't been finished yet as there is still wave C to the downside missing. The target for the wave C is still hard to project, but it should take out the low of the wave A at $564 with ease.
I think we will break up out of the ascending triangle here through the down trend line and once through the down trend line its off to the races, no coming back
Angran
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by the way, in which condition do you regard this chart invalid anymore? Thanks.
Angran
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very nice chart, thanks for sharing. I have the same opinion. Do you have updated BTC chart as well?
Crypto_Jan
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why do you have an ABC correction followed by another ABC? Should we not have a 5 wave continuation pattern after the first ABC correction?
sebastian.seliga.7
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@Crypto_Jan, Please notice the five wave progression does not fit. :)