Etherum will not show another all-time high quickly

Elliott wave pattern shows an overlap between waves 1 and the current correction. Moreover wave 1 occured post a triangle breakout. This means that it is the last action of the trend of higher degree. Last but not least the drop from the all-time high looks impulsively...

Hence, buckle up for more downside in Etherum!

No short position entry at this point. Better to wait for significant rebound to upside.

Trade closed: target reached