Ethereum (ETH): A Minor ABC Correction In Progress

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·@haejin·
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Ethereum (ETH): A Minor ABC Correction In Progress
<center>![](https://steemitimages.com/DQmf5i45SGJccjYLWdc8q8KNzXgL2mfG6f2z1jc7U9xpQnn/image.png)</center>
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**SUMMARY**

The breakout of Ethereum (ETH) from the downward wedge that had been developing since December was supported by the MACD breakout. The ABC (red) corrective waves seem, therefore, complete. 
![](https://steemitimages.com/DQmWTEQQkrExMHqMbPeUhM1WHDEbn8gGZfq4vS3Z29LDgHC/image.png)

The closeup microwaves (blue) show the first impulse round is placed and the next price action is a minor retracement. The small wedge formation could also mark the A of the ABC (red) requisite correction. These are all subwaves to a higher degree of trend waves and so expect a bit of volatility.
![](https://steemitimages.com/DQmdPhkpWQhUxwnhzVUbAWAQNQd5VeqPwBhtBQxJ8yZ8UjE/image.png)


**Legal Disclaimer**: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes. </center>


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[Elliott Wave Counting Tutorial #1](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-1-by-haejin)
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[Elliott Wave Counting Tutorial #3](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-iii-how-to-label-and-apply-triangle-price-corrections)
[Laddering](https://steemit.com/bitcoin/@haejin/an-effective-buying-and-selling-strategy-laddering-a-tutorial-on-to-cast-a-ladder) and [Buy/Sell Setups](https://steemit.com/bitcoin/@haejin/when-to-buy-and-sell-using-elliott-waves-a-tutorial). 
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[@haejin's Trading Nuggets](https://steemit.com/bitcoin/@haejin/haejin-s-trading-nuggets-all-learned-through-tonnages-of-failure-experiences)
[Essay: Is Technical Analysis a Quantum Event?](https://steemit.com/bitcoin/@haejin/essay-is-technical-analysis-a-quantum-event)

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