This last 6 weeks of trading ETH or BTC has been pretty frustrating, lots of shifting bias and no clear pictures. BTC and ETH are very closely correlated, so for the most part the charts are similar, however due to DEFI i do expect ETH to outperform BTC.
My idea is that ETH is currently ending it's B wave within Wave 2 of a larger degree impulse since March low's. That means that a C wave down needs to complete before starting an impulsive move up.
This idea would be invalidated over £194.
Buy zone from £180 > £172, i will be laddering with greater volumes the lower we go. I would then expect price to impulsively move above £300!!!