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**SUMMARY**

Since the last update for Ethereum (ETH), price has been scraping the bellyside of the upper blue trend line. The two rounds of zigzag labels still remain same and the final five waves of the blue (c) wave of 2 has been updated to reflect passage of time. This count still remains primary and so a lower low would complete white wave 2. Also, the retrace would measure about 0.88 Fibonacci which is quite common for Altcoins. Nevermind 0.618; but the sqare root of 0.78 which is 0.88 seems to be the most common Fib zone. This is the case when extended 5ths are prevalent as it is in the Cryptosphere. I've given detailed explanation of how extended 5ths relate to deep retracements in previous posts.

![](https://steemitimages.com/DQmWNSi5uJuPFkrCHcExq7VhKnfMd2iF7oF3Zfh716a4PJp/image.png)

The top alternate would be that the whole correction could count as a WXYXZ (red). Still, the micro and subwave counts fit well into this as well. It is very likely for Ethereum to follow Bitcoin's lead.
![](https://steemitimages.com/DQmah4tZgSeN1FEYN3u3q2r497irEAvzxDQXvc7cC7VhReS/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>


Please consider reviewing these Tutorials on:
[Elliott Wave Counting Tutorial #1](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-1-by-haejin)
[Elliott Wave Counting Tutorial #2](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-video-2-zig-zag-and-flat-corrections-how-to-recognize-and-label-corrective-waves)
[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). 
[Laddering Example with EOS](https://steemit.com/bitcoin/@haejin/eos-target-usd3-22-analysis-update-live-real-time-laddering-example-you-don-t-want-to-miss-this)
[Tutorial on the use of Fibonacci & Elliott Waves](https://steemit.com/bitcoin/@haejin/tutorial-on-the-use-of-fibonacci-ratio-and-elliott-waves)
[@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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