Ethereum (ETH): A Minor ABC Correction In Progress

SUMMARY

The breakout of Ethereum (ETH) from the downward wedge that had been developing since December was supported by the MACD breakout. The ABC (red) corrective waves seem, therefore, complete.

The closeup microwaves (blue) show the first impulse round is placed and the next price action is a minor retracement. The small wedge formation could also mark the A of the ABC (red) requisite correction. These are all subwaves to a higher degree of trend waves and so expect a bit of volatility.

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Elliott Wave Counting Tutorial #1
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Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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