EthereumUpdated ETH downward wave pattern
Middle fib retracement levels match blue pattern, right fib retr. levels match orange wave
Based on the Elliot wave principles
IF wave 3 does a 1:1 to wave 1 then wave 5 can be 1.618
IF wave 3 does 1.618 to wave 1 then wave 5 can be 2.618 (or more)
note:
Wave 4 of minor and major match up (with a minuette 12345 inside) and although the minor wave does not do a full 1:1 extension it gets close.
Both minor and major wave end up at the same place. Red line would be a target
Feedback Welcome!!
Based on the Elliot wave principles
IF wave 3 does a 1:1 to wave 1 then wave 5 can be 1.618
IF wave 3 does 1.618 to wave 1 then wave 5 can be 2.618 (or more)
note:
Wave 4 of minor and major match up (with a minuette 12345 inside) and although the minor wave does not do a full 1:1 extension it gets close.
Both minor and major wave end up at the same place. Red line would be a target
Feedback Welcome!!
Note
For some reason it's not showing the full graph. Sorry for that.Target mentioned is 742 USD.
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Update
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