Amidst all the other breakout stories I still believe we are looking at a lower low potential for BTC or ETH. While others framing this correction period as full of complex graphs, wedges and what not but most of us forgotten about a simple ABC zigzag or Flat. This entire BTC correction fits quite well as an ABC zigzag. B has retraced little over 38% to satisfy Fib ratio and C wave is in progress.
Now if this count legit a C wave is in progress which very well be an impulse. So counting the sub-waves of C here is how it looks. Now I was asked why i put wave 3 so low is because by rule 3 can't be shortest wave of an impulse. :)
So if this count holds a true lower low is ahead of us as by rule wave C always travels beyond A. Wave A was the famous February 5th low of $5900.00.
Now if we look at ETH a carbon copy version of BTC can be seen lately. Please note ABC correction of ETH Could be a ABC flat instead of zigzag.
when I take closer look at the sub-waves of C, looks like sub wave 5 is in progress and it can take ETH to as low as $305 range.
But one thing is very apparent that ETH and other major coins are following the same pattern as BTC. will they continue to do so for upcoming weeks? Well, we shall see. For now let's wait and watch this beautiful game.