SUMMARY
Ethereum (ETH) is correcting after putting in five waves. There are 34 possible corrective combinations at every turn in price. This is why corrections are not traded but monitored and analyzed for the terminal end to cast an entry ladder. The below chart maintains an ABC ZigZag (5,3,5) type as the primary.
Purely from a forward discernment perspective, the below chart lays out the probable price pathway for an ascending right triangle formation. The decline in volume also confirms, thus far. IF this is correct, the price would traverse similar to the white arrow line until it can breach up and above the upper horizontal trendline.
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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