The Elliott pattern isn’t clear yet

We could actually just leave the subject as it describes exactly the current situation.

But better to see the chart too:ShortTerm

For the moment it’s the best counted as a double zigzag on the way down from 0.02280 to the last bottom at 0.01710

Combined with the previous very clear (a)-(b)-(c) rise it gives some ideas about what could happen next. Unfortunately, these options are several as the three waves movements in Elliott Waves theory have quite some variations.

In case the ETHBTC will suddenly decide to rise from the current level and will pass the 0.01880 point, the structure shown above will become our main and favorite count.

If the price will keep falling down, we will publish the update and possibly the new count tomorrow.

Besides, we are somehow waiting for sunday, because the last several weeks quite strong moves took place on these days. This phenomena still needs to be researched. May be one of our visitors have any interesting ideas about it? We would be eager to listen to them.

Have a nice start into the weekend.

The Elliott Wave Principle describes the behaviour of the financial markets. This Principle is build on the mass psychology swings from pessimism to optimism and back in a natural sequence. When these swings happen, the specific Elliott wave patterns in price movements are created and become visible. Each pattern has implications regarding the position of the market within its overall progression, past, present and future.
The purpose of our blog posts is to outline the progress of markets in terms of the Elliott Wave Principle.
While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will my posts make specific recommendations for any specific person, and at no time may a reader or viewer be justified in inferring that any such advice is intended.
Very important. Investing carries risk of losses. You should be aware of all the risks associated with investing/trading financial instruments. Information provided in this blog is expressed in good faith, but it is not guaranteed.
The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities.
This blog and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.
In no event will we be liable for any loss or damage on your account in connection with the use of our publications.

Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

One thought on “The Elliott pattern isn’t clear yet”

  1. Thanks! I don’t have compelling theories for Sunday trading. The one thing I can think of is that there are many small/individual traders in crypto that may be busy with work/other activities during the week and are more active in trading on Saturday/Sunday. Enjoy the weekend!

    Like

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