✳️ Ethereum vs Bitcoin & Elliot Wave Theory | #OKXIdeas

Here we have a chart for ETHBTC with a perfect Elliot Wave sequence... Let's dive into it!

- First, we have a 5-Up Wave pattern, it starts 11-Apr. and peaks 18-Apr.
- Second, we have a perfect Zig-zag or ABC correction.
(Notice that this correction ends right at the 0.618 Fib. retracement level with a Doji, EW is big on Fib. proportions. This is also supported by increasing volume and a bottomed out RSI).

We have the perfect 5-Up and then the ABC... What follows, is a new impulse based on EW.

This setup is invalidated on a close below the 26-Apr. low.

This is not financial advice.

Thank you for reading and for your continued support.


Namaste.