ETHUSD 240 min. The possible end of the downtrend
I would prefer to stay neutral or, at least, half the existing short in the current situation. I would not open any long position until I see initial waves of uptrend because I assume that there is a wave correlation between BTCUSD and ETHUSD but BTCUSD did not show new low yet.
P.S.
Please do not be confused. This is not pure Elliott Wave Analysis. This analysis is based on my fork of Elliot theory. The simplified concept of this fork is published here: plus.google.com/102703249206977009572/posts/Sc1MCdZiWNR
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