That ratio though (eth/btc)
ETHBTC: Haven't updated this in a while. Mainly on my twitter.
The macro move up looks like a clear 3 wave correction(yellow poly line) so this would be my first thought but the move down from 0.0285 isn't the prettiest 5 and we're also trying to get out of that channel. If that breaks there are two other options I'm following.
Option 1. Expanding leading diag from the low where we're putting in the 5th now(don't love it but it's valid)
Option 2: Triangle 4th
Reason I'm not considering a multi zz or combo is because they haven't done the required depth or broken the required channel. That's not to say that it can't in the future but just what has happened so far.
Also possible 1-2 1-2 up but I'm not digging it. We'll see.
The macro move up looks like a clear 3 wave correction(yellow poly line) so this would be my first thought but the move down from 0.0285 isn't the prettiest 5 and we're also trying to get out of that channel. If that breaks there are two other options I'm following.
Option 1. Expanding leading diag from the low where we're putting in the 5th now(don't love it but it's valid)
Option 2: Triangle 4th
Reason I'm not considering a multi zz or combo is because they haven't done the required depth or broken the required channel. That's not to say that it can't in the future but just what has happened so far.
Also possible 1-2 1-2 up but I'm not digging it. We'll see.
Certified Elliott Wave Analyst - Crypto - Futures - FX
Twitter: twitter.com/HovWaves
Twitter: twitter.com/HovWaves
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