Relative new to the theories of Elliot, however this is a scenario that seems to be playing out. Hope someone with some more experience could comment on this idea, thanks in advance.
After we reached the target at 1740 and 1720 (1740 - 1680 area ) from my previus idea (attached here), I would say that a beautiful wave 4 made of an inside ABCDE ( 3 3 3 3 3 waves) strucure might be in competition (or already completed), in that mentioned area. But looking at the formation of this last leg down I would say that this could looks also as a wave 3...
While I've analyzed ETH/USD I realized that we could be in a WXY sequence, but due to disproportionate measurements by fib I can understand we may be at SUPER CYCLE ABC correction. If we will take a closer look at RED 'C' wave, we will notice it is a structure of 5 sub count wave as it spouses to be: One closer look at the last 5th wave will unfold an extended...
Looks to me like we are in a complex compression. Originally I thought we finished a double three (Flat - ZZ - contracting triangle) but after the latest upthrust I feel as if we are in a more complex pattern. Thinking we are on our way down to $10k to finish a flat before going 3 up and then working our way below $9k with a zig zag either in a more complex WXY...
o Massive divergence o ichimoku is still sell however the indicators are showing reversal o if its a reversal 335 is the target