I have some bad feelings with the sentiment about the AUDUSD LONG (BUY). First, the price has already "breakout" from the Rising Wedge bottom trend line clearly! Second, it was unable to complete our basic 5 wave impulse where our 5th wave went invalid. Chances of another falling wave could form if the price falls deeper. Talking about the Fibonacci Retracement...
ETH very similar to BTC has completed a corrective pattern - expanded flat.
It broke the low and the broke the high of wave A making this an expanded flat.
Since it formed a corrective pattern instead of making a new impulse, should expect another wave down before any kind of reversal in Ethereum and rest of the crypto market altcoins.
We are at the moment in the 5th wave of wave 3 of a larger degree. Stop Loss @ 590 Euros. We are going to split our targets. Take your first (1/3) Profits @695-700, your second target is 730-740 Euros, and the last target is @815 (2,618 Fib level and we have a confluence zone forming with the top of the channel, but we need an extended fifth wave for that...
It already did 3rd Wave.
Now it's in correction.
Expecting a 5th wave to form soon if support of $12.6 stays unbroken.
S2) WHITE WAVE - ABC Correction before 5th Wave
IF S1 fails:
Expecting a 5th wave to form on around $12 area.
S3) If S2 fails - ABCDE Correction befor 5th Wave.
5th Wave might still start at about $10.7
S4) IF ALL ABOVE...