Further Clarity - Market Analysis on Mar 4th, 2019

One aspect of price action I was not clear on last night in the report is that this continued drop in Ether opens the door to all of wave 2 being complete sooner rather than later. I had considered this prior, but stated earlier last week that it was diminishing due to the upward action being more B wave like. But now that we are putting in a deeper flush rather than my B wave expectation, that potential is alive in my view. The problem still remains that it is based on an awkwardly high B wave top, as also expressed by JAppel and Zac over the last 24 hours. So I really need to see an impulsive move to trust it. But there are many charts that argue for an IMMINENT bottom to wave 2 of three with little question of the structure, along with other strong charts having bottoms of a 4th, like LTC. So, I will not fight it if an impulse shows. 

Further, with the action we had overnight, it seems to me that Bitcoin could be putting in a 1-2, and the triangle I pinpointed filled out in 'flipped over' fashion. It was a B the other way :). However, I'll be looking at how it interacts with the box above for further insight- whether it is a 1-2, or a/b as shown on my chart.

I hope this gives some clarity, and also emphasizes the need to be alert. 

XBTUSD - Primary Analysis - Mar-04 0429 AM (1 hour)
XBTUSD - Primary Analysis - Mar-04 0429 AM (1 hour)
ETHUSD - Primary Analysis - Mar-04 0424 AM (20 min)
ETHUSD - Primary Analysis - Mar-04 0424 AM (20 min)
Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.