SUMMARY
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Ethereum (ETH) subwaves are likely completing blue wave 4 as can be seen in the below chart. The pattern that seems to be emerging is an upward wedge (white lines inside circle). If so, then blue wave 4 is not yet complete and the purple arrow outlines the pathway to complete the abcde microwaves. Given that the Head & Shoulders decisively confirmed and the minimum downside target is $461 to $481 or so; I believe a lower low is needed to complete the correction.
From a longer term perspective, the correction is actually forming a bull flag, as outlined by the purple parallel lines. This is quite similar to the actions of Bitcoin (BTC). This type of how a part of the Head & Shoulders pattern also contributes to the bull flag formation is quite interesting because it acts like a hand off. I don't think the correction is complete until the 0.781 Fib level; however, if price decides to turn up and surge before.....great!
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