Ethereum ETH Price News Today – Technical Analysis Update, Price Now! Elliott Wave Price Prediction!

Ethereum ETH Price News Today - Technical Analysis Update, Price Now! Elliott Wave Price Prediction!

Foreign Welcome to another update video about Ethereum so ethereum still Um my view unchanged that there is Certainly a bullish potential here in This chart especially from the low here At around 880 in June I'm still looking At the move up to 2020 as a wave one and Then we are now coming down in a wave 2 That might or might not be finished but Um it the importance is it needs to hold The one thousand dollar level to allow Us to move up in a way three to around Three thousand dollars yeah and then There will be away four and away five So this would be the bullish count in That we are holding the one thousand Dollar level we're also going to dive Into the lower level wave count in a Minute Now a few people have asked me for an Overall bearish County now for um What's the bearish county currently for Um ethereum so the bearish count is that All of this move down was Um a w x y So that we are looking At oops W x y and then the move in the Y wave Was here A B C and we've seen here a wave one two And we're now coming down in three there Should be a four and come down and five That would be the bearish wave count

Um and that project sort of actually Lower than 650 it would take us into the Region around 300 to 400 that would be The real bearish Count based on latest Price action Um so I'm gonna but the 650 level is Possible as well it's just different way Of calculating target but the point is If we lose the one thousand dollar level That's most likely to count that depends On the strength of the sell-off which Targets we're going to reach but my First call if we drop below the 880 Level which was the June low would be 650 and then if we lose this level it Would be between 300 and 400 US dollars So let's look at the lower level of wave Count Um here again ethereum only had three Waves up It is fine if we count it as a truncated Wave um I don't really like the idea of Counting it as basically here a five Wave move up where the wave 5 would be Truncated that is not really what I like To do Um it doesn't really give a lot of Confidence the other possibility is to Count and that's the bullish case to Count all of this as a leading diagonal That we have an ABC in wave one The Wave 2 would be an ABC The Wave 3 would be in ABC and so on right Um

So there are different possibilities Different wave counts and I can take you Through all of them but it doesn't Really make a difference because based On this current chart here we would Break out of the triangle to the Downside next yeah where I count the Triangle basically the wave B here so we Have a wave 2 on going we've seen the Wave Halo we are currently seeing the Wave b as triangle and the wave C down Is still to come Um in the previous video I gave you some Some targets for that that all depends Here on the um High of the E wave so targets around 1160. For this um wave C of 2 and then we have Another chance to Rally in wave three Up here Um The the other scenario would be it has Again it's a bit more of a of a complex Count as if indeed we only had ABC up Here and then we Need to Yeah so ABC up and then we hit a b C or w x y down here where we bottomed Here at around 1200 And that would then have been already The yearly w x y of the Wave 2 so it Would be finished basically here and Then we now have a triangle going on so I would have to say that this could be a

Wave a And then we have the triangle going on But this is getting very very complex so I don't really want to make it quite Complex to keep it very short yeah to Keep it very short it all depends on in Which direction the triangle now breaks Out Target to the downside would be Around 1160 as I said Um this is currently looking like it Yeah it's looking like it's going to Lose it to the downside let's actually Take the height of the triangle that can Give us a bit of a Target as well if We've really really Oops break out to the downside as per This triangle count that we have Actually on the chart then Target would Take yeah well 1160 is not far off from The height of the triangle Target so That would take us to around 11.75. Um should we in contrast to this count Break out to the upside then I would Have to say that the Wave 2 was already In here probably as it's actually as we Talked about it before in the video that The Wave 2 was in here this was just a Simple ABC I could I could formulate Something more complex silver would be Pointless Um and then you know we would move up From here so it basically depends on Which direction of the triangle we're Going to break out and then we have a

Better indication of which count do we Actually go with Um well I can tell you that I don't Really have too much confidence into a Bullish breakout pattern again across Bitcoin and ethereum don't really have a Much have much confidence in a bullish Breakout directly from here because this Move up was not a full and not an ideal Impulse So still though this support box is Important as long as we're holding above 11 30 we can focus on higher which means Also with short-term downside potential As long as we're holding the 11 30 level This can still easily continue to move Up further and then in a third wave can Give you a target for the third wave Already I think I did that in the Previous video Um based on the current low here the Target would be around 16 50. so yeah I Think based on this we can assume sort Of an impulsive break out here in the Next few hours maybe towards the weekly Candle close or in the early hours of Tomorrow because we are just heading Further and further and deeper and Deeper into this apex of the triangle And again it's a bit like a spring that You're compressing which then gets Released and it suddenly starts to jump Um so this is certainly what we can Expect to see here shortly I think okay

That's my update about um ethereum I 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 thanks a lot for Watching bye Thank you

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