ETH is having a great run, and we think that the last leg before a nice correction will be more powerful than the other ones.
A 5th wave extension is said to have a high chance of occurring when neither the first nor the third wave have extended. And since this is the case, we should be watching for this to play out. It is also possible that ETH will decide not to extend and put in a weaker leg for the last move up. We will be keeping an eye on the subwave count to see.
Altcoins are in for some big movement if this can play out which also aligns with our other idea about the altcoin market cycle. Our Bitcoin analysis also aligns with this idea because we think that it will slowly move up over the next week which will give ETH more space to grow.
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We are taking profits now. ETH may drop as much as 50%.
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*It can also go higher. We are not sure about the top.*