ETH is now in an ABC corrective wave after touching 700s. It has already completed Waves A and B of this corrective pattern and now appears to be in Wave C. It is following a similar pattern to Bitcoin and Ripple as described earlier (see below) but it seems to be the strongest of the three as its Wave B retraced back 78.6% compared to only 50% and 68% for Ripple and Bitcoin, respectively.
ETH is likely to go down to 498 if Wave C is 1.62 times Wave A and to 570 if Wave C is equal in length to Wave A.
There would be another opportunity to short ETH after it completes wave 2 of C today. Please note that it is not a trading recommendation.
Feedback, likes and comments are welcome!
Cheers,
ND
Original Bitcoin wave pattern published on 20 April
Bitcoin update:
Original Ripple pattern published on 20 April:
Ripple update:
ETH is likely to go down to 498 if Wave C is 1.62 times Wave A and to 570 if Wave C is equal in length to Wave A.
There would be another opportunity to short ETH after it completes wave 2 of C today. Please note that it is not a trading recommendation.
Feedback, likes and comments are welcome!
Cheers,
ND
Original Bitcoin wave pattern published on 20 April
Original Ripple pattern published on 20 April:
Comment:
Sorry, Bitcoin and Ripple ideas were published on 26 April, not 20 April. My bad!
