Ethereum Broke Resistance! Is a Rally Ahead? Latest Elliott Wave Forecast for ETH

Ethereum Broke Resistance! Is a Rally Ahead? Latest Elliott Wave Forecast for ETH

[Music] hello and welcome to another update video about ethereum ethereum broke above our initial um signal level which indicated that we might have a well we have to reinterpret the micro structure at least on the chart only the micro structure so we doing that and I want to share with you what I shared already earlier today on Discord which is this chart here um the updated chart and we are dealing still with not a clear bottoming structure okay so which hopefully makes sense because the chart did not form that lower low yeah if we are dealing with something that we would call a WX y structure then the Y wve there’s obviously here an A B C well and the c-wave didn’t finish okay so it’s not finished it can always turn into something different but there is no reliable bottoming signal really because we haven’t formed a lower low so it cannot be my primary scenario that ether has bottomed would I like it to have bottomed yeah you know together with Bitcoin I would I would love it you know getting to 90k for Bitcoin and new alltime highs for eth amazing from here uh I just need a little more evidence and in this video we want to talk about what that would mean on the eth chart problem here and that’s different to bitcoin’s chart is that ether has not formed a lower low here on Wednesday and that would be idea would have been ideal because had ether bottomed here okay then at least I could consider that the rally now is going to be let’s say a wave one of an even larger I don’t know third wave or something something what we’re dealing with at the moment is corrective price action after an unclear bottoming structure so while of course the price could move up from here if it does that I would consider the yellow count and that would not really be a breakout scenario okay so we have to remain a little bit flexible here and have to be on our toes absolutely doesn’t mean it couldn’t go up first I’m definitely watching for that I mean this correction overall has been long enough to be considered completed it’s just that it doesn’t give yeah it’s not a it’s not a great um bottoming structure so let’s talk about what we need to see to get more confidence in continuation to the upside first of all in the decline if this is a c-wave down which it certainly still could be we can call that an ending diagonal now the seawave to the downset I don’t like the look of it but it’s possible and then this would be a b-wave rally in wave three then we can still get a 45 that’s pretty much in line with the white scenario on the Bitcoin chart and um to keep this scenario let’s say alive the market must not break above 3,250 or 3,255 if it does that the white count as it is is invalidated also in this scenario really we should not hold a higher low in any pullback now so if it’s holding a higher low in any pullback then it would most likely be the the yellow count so I think short-term bearish is discussed would be an ending diagonal can still get towards 2,500 2,600 I don’t think any change other than a bit of morphing in the micr structure which happens all the time especially in larger Corrections and you need to know about the invalidation point which I mentioned to you and then confirmation that we are breaking down is a break below 2820 which is the Wednesday low but already below um so this support area which I have to adjust to the latest high already a break below 2876 if sustained would indicate we’re coming down in the white count as I said on the Bitcoin chart as well if we hold a higher low in any pullback now and the support area for that pullback if it started from here is between 2,876 and 2,985 then I will assume that we’ve at least put a local low in place or a more substantial low actually in this case and that would however in the main interpretation then so at the moment it’s an alternative a c-wave ready to the upside that this b wve gets reset higher um but if we hold a higher low then this would become the primary scenario okay and then we will watch for five waves up of the larger wave degree and I would consider that only a high B wve rally but if these five waves fill in and it can then hold a higher low well again that’s the next level of confirmation that we’ve bottomed I think for now if you want to play the long side for me I mean the micro support area is here 2876 to 2985 um clear and validation point is that 2 820 level I have to say though in the short term at the moment the Bitcoin chart is much much clearer yeah that’s my update about ether hope you like the update if you did please hit the like button leave a comment and subscribe and if you really like the content then please check out the channel membership also make sure that you follow us on Instagram and Twitter for additional content thanks a lot for watching bye-bye

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Ethereum ETH Price News Today – Technical Analysis Update and Price Now! In this video I talk about a technical analysis of the Ethereum Price and I talk about some important price moves that are happening right now! Ethereum Price Prediction! I also talk about Elliott Waves!

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