Assuming BTC develops its bearish tendency and Ethereum not just correcting but also developing and impulse to the downside, we could look at it as an ABC corrective pattern, with the extended C wave being an ending diagonal.
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1st targets have been reached and we develop a bearish structure as expected, further downside movement is expectedNote
The last move has not brought major changes, was expected as its a weekend and overall its all still inside the same count. However our expected targets to the upside havent been reached yet and they could be reached potentially. This would mean our wave 2 isnt finished yet. Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.