Ethereum Classic (ETC): ABC or WXYXZ
SUMMARY
Ethereum Classic (ETC) had peaked with five impulse waves; each segregated by abc retracements. The current correction can at first be labeled as an expanded flat of abc waves as shown in below chart. Expanded flats often indicate that further and perhaps more aggressive rises are ahead; in other words, the original trend has yet to resume.
IF the expanded flat Elliott Wave count is correct, then the white impulse is being followed by a correction and once this is complete, the blue wave impulse could take ETC to new highs. The current questions is how deep the retracement of the current abc might be.
The alternate count that could also fit given the sideways nature of the price move over the past several months is a triple combination wxyxz (blue). IF this is the case, the Z wave is most likely in progress. It would provide potential for a lower low. I believe this is the less likely scenario and thus remains alternate.
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Who even uses Etherium Classic?
As you know there is an Airdrop of Calisto to ETC holders on March 5.
Comparing that to BTCP airdrop for Zclassic Holders, I noticed a huge drop in Zclassic price after the snapshot that took place today.
Probably the second scenario in your analysis is very likely after the airdrop, as well. (If we connect news/events to theoritical waves).
Yeah I agree. The completion of the airdrop makes the second scenario more likely. Still that could lead to a good buy zone which ultimately might mean better profits - just going to have to wait a little longer
Hello @haejin. Can you please explain how you decide a scenario is a primary or secondary count ? Thanks
If the break is accompanied by strong volume and the Elliott Waves are ideal Inc pen/fit and pattern also suggest, etc etc. these enable ore likelihood assessments and are used to determine primary counts.
Thanks
I believe the ETC this year will increase sharply at the end of the year, because this year there are too many events for the ETC, Targer $ 150 end of 2018
Bitcoin is the very big boss in the world now, haha
can anyone explain the differences of ethereum classic vs ethereum?
I had the impression that i was just a worthless fork, but people really like this project as a long term hold.
i think it has a good team backing it as well.
Coins mentioned in post:
Very good altcoin @haejin