Disclosure: I have a long position in ETH (long-term)
ETH has started a new wave count with wave 1 from $570 to $980. Wave 2 is a sharp and deep correction to 78% Fibo level. I think wave 2 is over (MACD should confirm this soon) and we will start wave 3.
The good news is that when wave 2 is sharp and deep normally wave 4 (correction of wave 3) is a short wave.
Legal Disclaimer: I am not a financial advisor. This article is only meant for use as informative or entertainment purposes. It is not a recommendation to buy or sell anything.