$ETH structure is pointing lower after any near-term bounce. Two Elliott reads in play:
• 3-3-5 flat correction → one more fifth wave down completes the pattern, then we're done and ready to recover
• Bearish 1-2 impulse → we're early in a much larger third wave decline, more pain ahead
The difference isn't subtle. One scenario wraps the correction and sets the stage for reversal. The other opens the door to a deeper, extended move lower.
Broader crypto weakness is possible, but we need confirmation. Don't front-run the count. Let structure prove itself, respect your stops, and stay patient. The market will show its hand.
• 3-3-5 flat correction → one more fifth wave down completes the pattern, then we're done and ready to recover
• Bearish 1-2 impulse → we're early in a much larger third wave decline, more pain ahead
The difference isn't subtle. One scenario wraps the correction and sets the stage for reversal. The other opens the door to a deeper, extended move lower.
Broader crypto weakness is possible, but we need confirmation. Don't front-run the count. Let structure prove itself, respect your stops, and stay patient. The market will show its hand.