Five waves up and three down is a strong confirmation for the bullish
scenario. The zig zag
correction might be over but it is good to bear
in mind that the price can retrace to the area of the blue elipse before the resumption of the bullish trend
. 0.5 and 0.618 fibo levels are used to give a better support for the end of wave 2. If ETH/BTC
choose this scenario then break out of the top of wave 1 (green) will be easily broken and the next challenge for the bulls will be the resistance at 0.03. If the bulls take this resistance too the next target will be 0.037 the historical top of this crypto pair. This scenario if correct will take several weeks to unfold.