Expect strong selloff in 3rd #elliottwave for $ETHUSD

Etherum shows a clear 5 wave pattern to the downside. It was retraced by a 3-wave zig-zag, which ended just short of the 61.8% fibonacci retracement. This is a typical level for 3nd waves to end.

Moreover, wave action already cut into wave 1 of higher degree, which signals that the paramount trend to the upside finished at the recent all time high.

Etherum is therefore most likely in a 3rd wave to the downside. Expect a strong selloff!

Trade closed: target reached