ETH Elliott Wave Analysis
5th wave impulse as shown in chart completed @ 4950
After five impulse correction has to develop as per Elliott rules.
WXY or WXYXZ pattern of correction may be unfolding.
If the WXY pattern then correction is over at 880
If WXYXZ pattern then we may see one up leg "X" wave towards 1500/1900/2500.
Forecast "X" Wave :
Fibonacci 38.2% of prior 'Y" wave @ 1900
Fibonacci 50% of prior 'Y" wave @ 2250
Fibonacci 61.8% of prior 'Y" wave @ 2500
So we may see any one of the above levels soon.
What happen IF WXY Pattern, Then we may see a fresh new impulse towards Prior High 4900.
#ETH
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