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 well ethereum did a quite an Impulsive dive here yesterday or Overnight Um I'm quite happy with it I must be honest With you because As you might know talked about that I Think in a few videos made the channel Members aware when we were at around 1620 I closed two of my ethereum positions Two of my long positions and I was and Am ready for this Wave 2 correction Right so I'm waiting now to scale in More Um already started to scale in earlier Today a little bit with the smaller Position because for me it's all about Scaling out in resistance areas and Scaling back in in support areas first With smaller quantities and then with Larger quantities as we go lower And hits critical support areas yeah Um this obviously was a rather small Position nevertheless I think we've now Hit critical support my primary Assumption is we will go lower but let Me talk you through first what where we Were yesterday here we had a few options Um so in yesterday's video I've showed you here that all of this Can still be a way for and we can still

Expect a move up in a fifth wave even Though not guaranteed and it's getting More risky because we're this High here On the Friday Um Ethereum could have put a five in away Five right so without a problem you can Count this even though also here this is Not ideal but this is what it is Sometimes Um Ether input can can have put away five In so you can count it like that and Then based on that we would now be in Wave 2. But it was not invalidated yesterday it Still isn't invalidated the other Scenario that we can still look at a Possible fifth wave this is still Possible let me tell you that this is Still possible and why is it still Possible well we had a couple of options Yesterday we had the first option that This he could unfold as a triangle yeah But I told you with in an Elliott wave Triangle we need to stay above Um we need to stay above this swing low Here at 1504. now this obviously didn't Happen so the triangle option is not Valid however this can still just be an A B C or a w x y In this scenario this Wave 4 would have To be in now because a drop below 1460 Yeah would make a way for very very

Unreliable very unlikely now we've Dropped briefly below that level Which doesn't fully invalidate it yeah It doesn't invalidate it but it makes it Unlikely Nevertheless we recovered and we are now Back above 1460 so I won't completely Rule out that we can still rally in a Fifth wave but it's not the primary Expectation anymore the primary Expectation is now that wave in was Already or the wave 1 was already in So if it move those back to the left Hand side here the Wave 4 was therefore In here on the 2nd of November and the Wave 5 of 1 was in here and as far as I See it now we have here three wave Structure APC This could be already the C wave that's Going to complete wave 2. A bit skeptical about this yeah always Bear in mind that Wave 2 can use all of This space could go down to thirteen Hundred dollars yeah and the wave C can Extend as well or this could just be the Wave A there will be a wave B counter Reaction and we come down in a deeper Wave C just to show you here How that could look like All of this could be a wave a three wave Structure a larger B wave in a flat Pattern for example and then coming down In C This is absolutely possible because the

Wave 2 2 can go all the way down to Around thirteen hundred dollars let me Just move that to the left hand side Because it's now becoming relevant as You can see we've actually hit support Area for wave two the support I told you Yesterday Um the first support So yeah and because we did that I think I'm going to well I'm not going to take The way for support array of the chart But I leave it to the left because it Can confuse people now but this is not The primary expectation Um so we did reverse here and this area Yes And now we come down lower and yeah this Could be over technically but I don't Think it is because there is no real Reversal signal So let me zoom in We can try to label here the C wave I Think this is a b c w x y would not be My first you know option Um because we come down quite Impulsively So if we label the sub waves of the C-wave That might give us a bit of a clue we're Looking for five waves down in a c wave So here we had wave one and two This year was then wave three and this Could be wave four and there should be One more wave five down

In um in the fifth wave First of all let's take a look at how Highway 4 might go So this fourth wave should not exceed Let me just make it a bit larger here Zoom in a bit And Batman this move here has not Changed anything in the long term or in The medium term bullish outlook for Eve Um it just means we're already further Ahead in the chart then You know we had yesterday on the chart As possibilities still even though Obviously I recognized this possibility Here and warned you that the hike could Have been in already on Friday which is Worth strategically and there's always Where you need to think about risk Management and strategy Why I already took profits on Friday and Made you all aware but the 50 Fibonacci Retracement at 1507 this is what we Should not go above in Um in the fourth wave so I can give you A small resistance area here on the Chart so obviously we've reached the 38.2 percent level already we now need To be on high alert that we could come Down from here and because this is the Ideal level 404 There was currently no no sign of you Know stopping though so I think the 50 Level is important going above that Would make me consider something

Different maybe a one two one two maybe That this is already over Um don't think so really the the Evidence that we will go higher Will not really be there or the you know A strong indication would be let's say Like that a strong education would be a Move Above This wave too high which is At 15.75. And then at 1608 those would be Indications that either the Wave 3 has Already started that should be a really Really bullish move though so if I I Need to go to the four hour chart for That Um if I go to the four hour and then This Wave 3 has already started that Would be Um That would be quite a strong and yeah Let's say Um Move though because it would be the wave Three right so yeah this is now getting Interesting we're now in Wave 2 support Area we touched it for the first time Really Um so in the end you know we've been Waiting for the wave two and we might be There already a little bit earlier even Though I can't rule out that this was Still the way for and we're now heading Higher in wave five yeah of one can't Move that out but it hasn't it has

Shifted from primary to secondary Scenario so as I said to you yesterday There are not there is not a bullish and The bearish scenario here on the East Chart at the moment at least not they Are both bullish one is more bullish the Other one is Um or the other one the one is more Short-term bullish the other one gets a Deeper retracement before it moves up in Wave three so that's where we are there Is nothing bearish on this chart until We drop below one thousand dollars I can Only repeat that And personally I will use the current Um phase of to scale in again and Um yeah again there might be one more Leg down and then I will scale it more And then I will see if there is just a Wave B counter reaction or if it's Already the way three going to the Upside and based on that I will then Take it further so yeah that's looking Good at the moment Um or looking interesting at least but We have no we have no sign of bottoming Out yet I have to say that right Um Yes there is a bit of a reversal pattern Here on the four hour but there is no Real sign yet what would be the signs I Said to you those levels first but then Also a one two setup so on a lower time Frame I would want to see five waves up

And three waves down now it's way too Early to say that at the moment this Looks like three waves yeah even though It's not entirely clear probably would Have to go even lower in the time frame But ABC maybe here and wave four with Hit resistance now could push a bit Higher But then ideally we come down in the Fifth wave so let's see but that's my Update about eth again nothing bearish On the chart I can give you a target for The third wave now Um even though we haven't probably Bottomed yet in wave two But let me still give you a target for The third wave just to give you a rough Idea where we might land here allows you To calculate your let's say reward to Risk Um So we have to start the fips at round 11 90 11.95 so just roughly here so go to The high now which was at around 1675 And we go to the Well I don't want to go to the current Low let's go a little bit lower maybe 1360 and the target for the third wave Would then be around 2140 US dollars maybe even a bit higher Possibly all the way up to 2300 bear in mind this is only the third Wave of the third and Um this depends a little bit on how low

We really go in the wave too and there Will be obviously the way five pushing Higher all the way up to three thousand Dollars so it is interesting at the Moment yeah Okay that's my update about eth 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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