Ethereum’s Elliott Wave Counts Point Towards Higher Prices

The Markets Can Take Different Paths, Due to Uncertainty

We’re often asked what “the Elliott Wave count for X or Y or Z” is. Unfortunately, there’s never only one. Always at least two: a preferred (most likely) scenario, or the alternative(s) (less likely). Yes, there can be more than one alternative, each less likely than the other. But less likely doesn’t equal impossible. For example, when you flip a coin, the chances are about 50% that it will land heads or tails, but there’s a small chance it will land on its edge. For a typical U.S. nickel, that’s about 1 in 6,000 tosses (roughly 0.0167% or ~1 chance in 6,000).

Unfortunately, this is where most people check out because they want absolute certainty in a highly uncertain world. We don’t blame them, but it’s an entirely unrealistic expectation. Take Ethereum (ETH), for example. Figures 1, 2, and 3 are our three main expectations for the big picture. We prefer the first option, but is it the right one? Nobody knows! And I mean nobody, because nobody can predict the future.

The Key Is “contingent on,” as that’s the Stop Loss Level

But does that matter? Not at all, as all three options point toward higher prices, contingent on holding above certain price levels, but in different ways. The key here, of course, is “contingent on.” That’s our uncertainty and, essentially, one’s stop-loss. If there were no uncertainty, we wouldn’t need stop losses, would we? And there’s no indicator, method, or signal that does not have a stop loss. All do, as all carry some level of uncertainty.

So the essence of these three EW counts is “higher prices if key price levels are not crossed.” When these price levels are crossed, we can start eliminating some options. What are these levels? $1384, $883, and $356. See, once we wrap our heads around this issue, it’s clear, isn’t it!?