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 ethereum continues to move sort Of sideways here unfortunately it broke Out of this channel to the downside we Obviously had some well concerning news From from Poland here today so this is Obviously not a political Channel but Obviously it had or it did lead to a Little bit of a red candle here nothing Too bearish here at the moment markets I Think are still sort of waiting what the News are going to be like and the Development Um but still it pushed ethereum out of The channel to the downside that is not Yet a reason for concern in terms of Threatening here the potential bullish Scenario that we have on the chart here Where we could focus on higher carefully Um but it's obviously not ideal yeah It's not ideal and it's further messes Around with the chart here for me The bullish scenario continues to have a Chance here yeah and this is still the Support area Which we reached already once twice year Three to four times actually and Whenever we hit it we bounced off Um This is the area between 11 30 and 12 10 And it is based on the FIB levels of That wave one in red here let me just Need to do that a bit more accurately

You go so between the 78.6 percent flip Level and the 50 FIB level So This means there is a chance that we are Indeed in this red five wave move to the Upside so it's actually a bullish wave Pattern Um had a few questions you know why am I So bullish and so on and so on Um I am not so bullish Um we can only always react to the Market right so this is a market decide See what's going on we can only react And measure our risk and reward in the Present so in the present we can't Really look into the future but the wave Pattern here looks quite good And it is entirely possible that this is A so-called one two setup This remains valid and which would lead To a Wave 3 into the region around three Thousand dollars and this remains valid As long as we stay above one thousand Dollars I mean even below that level It's technically not invalidated but um Below the one thousand dollar level it's Probably not gonna work out anymore so It will only get officially invalidated Below 880 dollars But I think if we drop below a thousand Dollars it's not gonna work out anymore Which means that ideally ethereum Doesn't put a new low in if it goes Below the low now of the 9th of November

Which was here in 10 70 1075 right then This bullish scenario seriously gets Challenged yeah it seriously will get Challenged and It's it's really at a I wouldn't call it A makeup breakpoint but it's really at a Key decision Point here at the moment so Ideally it starts to Rally now yeah in This Red Wave count otherwise it's most Likely going to roll over and if we then Retest 11 30 and lose 11 30 then we're Probably going to come down to 10.75 and We'll lose that so I don't really have a Bias here Um it's an objective analysis based on The wave count the wave pattern of Course a bearish interpretation is Possible But for me it will only You know get into in control below a Thousand dollars So it it really is at an in this at a Let's say a decision Point here now and The point that I always try to make is You know we don't try to look into the Future here But what the Elliot waves allow us to Understand is low risk High reward trade Setups and this is one here a one two Setup where the Wave 3 could take us Into the region around what did we say Before let me just measure that roughly Here with 1600 1620 right so this is Certainly a possible trade set up here

And actually not a bad one because the Risk is quite low because the the stop Loss can be set quite tight okay Um and that's eventually what trading is About right so we don't try to look into The future of course Elite waves have a Predictive element Because Um you analyze the chart based on price Structures and fractals and you normally Get an idea of you know if a fractal or A price structure works out normally in A bullish way it will normally ideally Work out the same way in the future so That's where the predictive element Comes in but overall the edit waves are For me the best method to identify low Risk High reward trade setups and it has Worked really well Um on the way up here and it has worked Really well on the way down here and it Has worked really well on the way up Here yeah Um so anybody who's been with us here Knows that and we have here another Chance right so we have another chance And all of these scenarios were and you Know I'm not always bullish absolutely Not Um because from up here yeah we very Clearly said I mean this was a short Signal up here And there was one here as well and there Was one here as well no I'm not always

Bullish This was um even though we were Embedded in a larger bullish context The View was that we're gonna come down into This area and we already talked about That back in August right because this Would be a one-two setup that was always The plan and um yeah you know of course This can fail and then we get into a Bearish scenario which doesn't mean the Overall assumption was wrong well it was Wrong in the end but you can still use This assumption for trading and of Course we didn't hit all trade uh Reversal areas and for example this here Was missed by like 30 dollars but all in All I think it's it's gone really well So I'm uh looking at this as a potential Bullish breakout pattern here and again We we can just focus on that Strategically as long as it's valid and It's valid as long as we stay above well Here in the very short term as long as We stay above 12 10 and if we lose that We've got the higher level pattern as Long as we stay above 1170 and then here As long as we stay above 10.75 below That level well it's getting really Really challenging now in the very short Term here we can look at this as a one Two setup and then the way three to the Upside Target I gave you but within the Wave 3 in red we've got the yellow count And um Here this has a chance to be a wave one

Then hit the Wave 2 but we would need to Move up in a way three problem that this Is quite a Sharpie price action Choppy improvisation so I had to be Comment about that and that's true so I'm just thinking at the moment do we Actually get an extended wave too yeah Do we get an extended wave too is this Still the wave two Let me just take That because whenever normally away 3 Should be a very bullish wave now if you Don't see that it means that okay okay Either we are we are really in a bearish Pattern Um or the Wave 2 wasn't in yet yeah so The low wasn't in yet and that's what I Labeled here as ABC is actually only an A wave this C is a wave B and we come Down now quite strongly in a way of c And that's all fine as long as we stay Above 1170. the good very well be we hit Here this yellow support area again Before we start to move up and move them Up in a wave three yeah but this is um Again it's a possible trade setup and This was quite a choppy price action to The upside and It was not really bullish it didn't Really look like a wave three now Alternatively we have here another one Two setup one two but also this would be Let's say bullish again as long as we're Holding overall the yellow support box

Here and key resistance I can also put The resistance area on the chart here It's very well defined here it's Basically starting at around 11 well Sorry 12 would say here at around 1270 Yeah that's where resistance starts and It goes up here I would say all the way To 1290. So this is the resistance area we need To get above that area to really push Higher here it's not a clearly defined Level it's more a range Okay and 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 check out The channel membership thanks a lot for Watching bye

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