Ethereum ETHUSDT - Elliott Wave on the weekly! + ABC completed
- This is the weekly chart for ETH - analysis since the big covid crash in 2020.
- Wave 1 and wave 3 created ascending channels during their move, so we should count it as waves 1 and 3.
- It means that we should expect a last 5th big wave to the upside!
- 0.618 FIB extension (wave 3 -> wave 4) is around 21 000 USDT.
- ABC correction can be completed (wave 4) and we are ready for a next pump!
- If we take a look at the MACD indicator, we can spot a huge bullish divergence.
- Currently the market structure looks like a bullish rectangle (red one), which is a very bullish continuation pattern.
- Wave 1 and wave 3 created ascending channels during their move, so we should count it as waves 1 and 3.
- It means that we should expect a last 5th big wave to the upside!
- 0.618 FIB extension (wave 3 -> wave 4) is around 21 000 USDT.
- ABC correction can be completed (wave 4) and we are ready for a next pump!
- If we take a look at the MACD indicator, we can spot a huge bullish divergence.
- Currently the market structure looks like a bullish rectangle (red one), which is a very bullish continuation pattern.
