Like BTC, ETH has behaved exactly as expected. Intermediate wave (4) of primary wave [3] has retraced to the wave 4 of lesser degree low. Note the horizontal line marking the primary wave [1] high. This is the no go zone for ETH. Once primary wave [3] is complete and the larger pullback in primary wave [4[ ensues, this line cannot be breached to the downside. So, this could very well be the lowest ETH ever trades again. From here, we should expect it to proceed to new all time highs as primary wave [3] completes if final intermediate wave. Cryptos typically have very impulsive fifth waves. This should bode well for both ETH and BTC.

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About alphahorn

I received an MBA from Columbia University’s Graduate School of Business in New York and am a Wall Street veteran. I’ve worked for a number of investment banks including Smith Barney and First Boston/C S First Boston in New York. Over the years, I have developed my own Proprietary Swing System and I combine that System with my own Elliott Wave Analysis to trade.
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