Not so much to say today. ETH is slowly correcting lower. Well, actually the author expect it to accelerate a bit when the second leg of a correction will enter the active part:
According to how Elliott Waves pattern looks now the correction should reach at least 0.01980. At this area the wave “C” will equal wave “A”. Besides, it will also mark the 50% replacement of the initial 5 waves rise from 0.01510 to 0.02440:
It is, however, too early to speculate on it. We still need to wait and see.
To see if the Elliott Wave structure will be more or less completed at this point. And also sentiment should become ripe to allow the wave 3 to kick in.
For the moment sentiment is also boring. Not really fearful of a drop. Not too much optimistic about the rise. So here we also need to wait and let stronger bias will become visible.
Have a nice time for the rest of the weekend.
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