SUMMARY
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As there have been tiems when Ethereum (ETH) led Bitcoin in the price pathway or pattern, there still remains a good degree of similarity between the two. The below chart shows ETH's impulse wave of five up and then a subsequent correction. Similar to BTC, ETH is also patterning out a downward wedge pattern (blue lines). However, the blue ABC is more preferred as it reaches to the 0.618 Fib level.
Here is the Head & Shoulders Top formation that was introduced. It has not yet been complete nor confirmed. So, if price can start making higher highs, this H&S can become invalidated. However, if price reaches and decisively breaches the blue neckline, then the purple projections can kick in.
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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
Laddering and Buy/Sell Setups.
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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