ETHUSD
On 2016 Ethereum started a Cycle Degree Bull Market against the U.S. dollar, which I’m calling it, Cycle Wave 1, it climbed from $5.86 USD to $1,423.3 USD on January 2018, in a 5-wave pattern. After that it Started a Cycle Degree Bear Market that lasted about 11 months, declining from $1,423.3 USD to $83 USD in a 3-wave pattern, which I´m calling it, Cycle Wave 2.
And now it seems like a new Cycle Degree Bull Market started on December 2018, which should last years, which I’m calling it, Cycle Wave 3. Within Cycle Wave 3, we already made the first 5-wave impulse move higher, from $83 USD to $363.30 USD, a move that I’m calling Intermediate Wave 1. After that, we made a 3-wave move, which I will call, Intermediate Wave 2, correcting the previous wave. In which the price decline from $363.3 USD to $89.66 USD in a 3-wave pattern.
It is important to notice that Intermediate Wave-2 did not went below the lows of Intermediate Wave 1 at $83 USD. It went as low as $89.66 USD, making this wave still valid. And yes, it is still a big correction, but still valid.
What should follow now is a big up-move called Intermediate Wave 3, which it seems already started. This move should take the price of ETH against USD way higher than $363.30 USD. It should also take less time that Intermediate Wave 1, which took about 6.5 months. I don´t know how long, but less than 6.5 months.
It is also noticed the big capitulation volume on March of this year, which should give us confidence that the low is in at $89.66 USD on ETH on March 13, 2020.
The next move could take between a few weeks to a few months to be completed, so patience will be required to take full advantage from it. If it where to take 38.2% the time it took on Intermediate Wave 1, then we will be looking for it to finished by the end of May, or the beginning of June. And of-course it could also take longer than that.
I hope you find this interesting.
Good Luck to You
