We could actually just leave the subject as it describes exactly the current situation.
But better to see the chart too:
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.
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