For all you Ellioticians, are you seeing the same thing I am seeing out of ETH potentially? I've only begun studying Elliot Wave Theory this year...
Here's what I'm seeing and what I have drawn...
We have a multi year 5 Wave sequence.
Wave 1 took us to the highs of 2018
Wave 2 took us to the lows of March 2020.
We are currently in Wave 3, and inasmuch as Wave 3 can never be the shortest of the 5 waves, we have a LOT more upside to go.
Wave 3 may take us well north of $3,000 before we experience a Wave 4 correction.
ETH traditionally likes to meet the 21 Weekly EMA in bull markets and if my wave counting is correct, that may not happen until well into 2022 when we experience a Wave 4 correction.
If so, that will be the longest ETH will have traded above the 21 Weekly EMA in it's "short history."
I welcome the thoughts of more skilled Ellioticians and welcome any links to other analyses. Thanks!
Here's what I'm seeing and what I have drawn...
We have a multi year 5 Wave sequence.
Wave 1 took us to the highs of 2018
Wave 2 took us to the lows of March 2020.
We are currently in Wave 3, and inasmuch as Wave 3 can never be the shortest of the 5 waves, we have a LOT more upside to go.
Wave 3 may take us well north of $3,000 before we experience a Wave 4 correction.
ETH traditionally likes to meet the 21 Weekly EMA in bull markets and if my wave counting is correct, that may not happen until well into 2022 when we experience a Wave 4 correction.
If so, that will be the longest ETH will have traded above the 21 Weekly EMA in it's "short history."
I welcome the thoughts of more skilled Ellioticians and welcome any links to other analyses. Thanks!