SUMMARY

Thus far, price seems to be adhereing to the ABC correction as shown in the below chart for Ethereum (ETH). A minor correction is in progress. While there are multiple ways of counting the correction (34 possibilities); it won't be too difficult to zone in on the terminal end of the correction. IF this ABC scenario is correct, then the final C wave is likely to decline in a five wave fashion.

However, I believe the abcde symmetrical triangle option provides the better mode for ETH to take a bit more time in completing the correction. IF this scenario transpires, then a phenomenal upsurge in price can be expected as shown by the blue impulse waves and white arrow. Still, whether the correction is ABC or abcde mode; the destination won't be too different. Both pathways are expected to generate much higher highs.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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