Similarly to our Bitcoin analysis, Ethereum could be making an expanded flat correction . The current wave we’re in now is the C wave, which is made up of 5 waves. We may have seen the completion of the 4th wave and now seeing the 5th wave.

Trade Idea:
– If entering, the safest place to put stops would be above the wave 1 structure as Elliott wave theory suggests that wave 4 should not go beyond wave 1.
– A more aggressive stop would be just above the recent highs
– Targets: 2200, 1800

What do you guys think? Let us know below!

Have you seen our Bitcoin analysis?