While Bitcoin is staying at the same level it’s time to analyze the Ethereum. Of course Ethereum will repeat the Bitcoin’s waves structure, but it have it’s own volatility which could be more interesting for the traders.
You can watch the yesterday’s BTCUSDT analysis to understand which waves are anticipated for the whole cryptomarket. ETH waves are coincides with Bitcoin waves. Global wave 4 have been ended at $2000 and now it’s in the wave 5. Subwaves 1 and 2 inside wave 5 have been already ended. Now the price is forming the wave 3, the target for wave 3 is the 1.618 Fibonacci extension. Of course it’s just the approximate target. We have to use other “Magic bullets” to define where the trend is going to end, of course I will tell you where it will be the time to buy.
The extremely bearish sign which tells us that the Ethereum will fall next couple of weeks is the 0.618 Fibonacci retracement breakdown and forming the extreme weakness just below it. Of course I am not shorting the ETH, I just wait for the best insane long opportunity.
Best regards, Ivan