Ethereum is in the wave (C) of of III and like the main Elliott Wave count says it started to go into a bearish impulse after a triangle formation.
This is why it is similar to Bitcoin:
The alternative count says that the final E wave of the triangle hasn't formed yet, but long term, the chart should also go bearish in order to form the C wave of the zig-zag in that correction
The entry should be made after the correction of the first impulse that it will end in a couple of hours. Stay tuned to see my proposal of the entry on ETHUSD
This is why it is similar to Bitcoin:
- They both formed a triangle recently
- they both are in a corrective wave and go bearish.
The alternative count says that the final E wave of the triangle hasn't formed yet, but long term, the chart should also go bearish in order to form the C wave of the zig-zag in that correction
The entry should be made after the correction of the first impulse that it will end in a couple of hours. Stay tuned to see my proposal of the entry on ETHUSD