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RE: ETH/USD possible Elliott Wave Count
Would it be safe to say our upward momentum came from the BTC fork scare? We were in a complete downward trend until a few days before... once the hype from the fork dies off, we would resume our downward trend, no? Unless we get some news?
We are in the correction mode, and it's the most unpredictable stage of all. There's always a fundamental story behind the market moves. However, based on trading experience I never rely on fundamental stories because on too many occasions markets do completely the opposite of what they are supposed to be doing based on logic. The short answer to your question, - I don't know.
When I see technical evidence only then I'll be able either to confirm or decline your statement.