Foreign [Music] So in this video I'd like to keep it Very short Um because there has not been too much New price action since yesterday however I just would like to take the Opportunity to reinforce the price Targets and just communicate the price Targets again and what is necessary to To now start to move actually to the Upside because you know this is a no way Guaranteed and it is still fairly Uncertain especially as the price action Here the structure is not ideal for a Breakout to the upside however it's Possible and generally the structure Looks better than what Bitcoin is Currently producing so you know there's Certainly a chance and you want to know What the targets are you want to know What are the critical support levels so The chance to Rally inner Wave 3 depends On the following factors for first of All We need to hold above this yellow box Generally right so we have to hold at The least above 11 30 to imminently Allow for a move to the upside should we Lose the 11 30 level then there's a risk That we lose 11 7 10 75 and then we go Down to a thousand dollars if we break Below a thousand dollars it will open The doors to lows below the June low
Which means something around 650 dollars Most likely so 1130 needs to hold Um as long as 11 30 holds then in the Very short term it would also be good by The way to hold here the twelve hundred Dollar let's say 1207 the low here from Yesterday because then this imminent one Two setup could play out we have five Waves up here we have three waves down Oops three waves down ABC and this Should hold and then if it holds then we Can move up in the third wave Now what would be needed to do that well Ideally we want to Rally now and that Would be the confirmation we want to Rally Above This resistance area well it Starts actually at the B wave high here From the 12th of November at 1284 and it Goes up to 12.92 basically the wave one high as Soon as we break above that level It would indicate that we are rallying In a third wave in yellow so I can give You a target for the third wave and Yellow because we have here on the chart Possible one two setup that will imply We are now in the third wave and the Third wave consists of five sub waves One two three four five so let's take a Look at first maybe the target for the Red Wave 3 that is the higher level Higher degree wave three if it plays out Target for that would be So we're looking at the 1.618 extension
At least that's around 1610. you know it Would be a third wave in red the higher Degree wave and then in terms of just The lower degrees here the yellow Structure We are looking at A target of around fourteen hundred Dollars that fits quite well that is Also here the 1.618 extension and then We would move up once more in a wave Five now we don't know yet if this will Only be the first wave of the third wave Or maybe it will be a very short third Wave in red we will see but this is sort Of the targets that we can measure at The moment based on the current price Action it would be absolutely important To break Above This 1291 level and of Course then in the very short term hold Here the 1207 level because if it Doesn't hold this one too then it's Going to subdivide lower and it's not Over then because you know it can still Hold here the let's say there's even Here this support level at 1174 but when this holds then we drop Down to 11 30 we still have a chance but Breaking each of these support levels Will reduce the likelihood for a fast Breakout okay that's my update about 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
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