ETH is most likely correcting 5 years up going wave ! is the correction over? Most probably NOT.

ETH at ATH more than likely completed an impulsive section of a wave cycle and currently is in the corrective section.

Normally in simple form, corrections have 3 legs with two legs down and one leg up in between. As shown on the chart , it is very possible for ETH to be in the third leg of the ABC form of correction (C) after completion of first two legs (A and B).

ETH got hammered at 50 % Retracement of down going wave A which is acceptable and also typical for a zigzag correction. If we skip some unusual types of zigzag correction, ETH should normally make a new low at lower Retracement levels shown on the chart. So, Our ” Buy the Dip “ targets will be 1863 and 1046 USD corresponding 0.618 and 0.786 Retracements of 5 years up going wave respectively.

After end of correction, if we are going to have a normal ascending wave cycle , there will be a shining chance to invest on ETH. It may see some unbelievable targets above 10000 USD !

I have to emphasize what has been discussed is the most probable scenario. We know that waves, especially in corrective phase, can take many complicated forms. Should it need any update, we will provide in appropriate time.

Hope this to be useful and wish you all the best.