ETHBTC is going through a correction wave that because of its internal structure looks like a doble combo correction with a final target on the 0.009 zone.
We recommend close short positions at 0.0165 zone and take short position again when de b (circle) wave ends, what has to be defined later. Targets for next trade spots are not reliable.
It is about to end a c (circle) wave from a large complex correction of 5 sub waves that we can guess is a triangle. We expect to see and E wave composed of 3 sub waves with target on 0.618 of C@2906 CNY.
Long positions must be followed close (if not close already), as the wave can be just ended and start dropping down the price. Until 3005 CNY zone would be...
Al ready in side the channel from a longer term, we can see a posible target for the correction. We are looking for 0.02832 while we are inside the purple channel. Expect a small pullback to the channel's roof. Important not cross up that, it must work as a roof.
We are expecting a quick correction to the last bullish trend. The middle term trend is still bullish.
Caution is really recommended at the moment. The price must get back into the channel to confirm this movement and it would be invalidated if the ETHBTC price goes above the (iii) wave on 0.0341500
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