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 yesterday late or just after my Last video about ethereum we saw here a Spike to the upside Um mentioned just before I made that or Just when I made that video in that Video I talked actually about Um that the indicators rather suggest a Temporary push to the upside which then Also happened Um but I mentioned we really need to to Get a more substantial breakout we need A push above 12 30 until we get above 12 30. It's not really worth you know uh Considering anything like a breakout and Also put that onto the telegram and Discord group and said no reason to Panic It could just be a corrective move up Bouncing against the resistance here or The trend line and then coming down Again So it really needs that push above the 12 30 level and guess what it came to 12 30 and got rejected Um in the days before that I told you That generally by looking at the pattern I would actually like to see and move Down here in the C wave Um of Y which is embedded in this larger One two setup which could break out to The upside eventually so if you have

This one too from the low of the 9th of November the wave one yeah indicates That possibly a trend shift to the Upside could occur and then this sort of Sideways movement here could just be a Correction in a wave two but it's not Too high confidence At the moment it generally is in these Markets a little bit like if this Happens then that you can't really get Anything else Um and therefore we just need to wait For a signal but to fill the pattern Here the wxy and in the Y wave then the ABC I really wanted to see one more leg Down and maybe this is happening now Um but we haven't really broken any key Levels yet so ideally For this one two setup I would like to See a move down to around 11 30 that is What would fit quite well Um but again we need that kind of signal Really off the market to tell us what's Going to happen here next because we are In a broader range we are caught in a Pattern as you can clearly see and it Would just fit this wxy really well to Get um Within the Y wave in an ABC a lower C Wave and 1130 is the key support box Lower support Um as you know the yellow box is Basically our support range here as long As we stay above that level we can focus

On higher but again to break for a Breakout to the upside to occur and to Rally in a third wave to the upside here We need first of all a move above the 12 30 level that's that wave B High here And we need eventually a push above 1290. as long as we stay below 1290 Um We could argue we're really just in this Broader range and we don't really have An edge here or any kind of signal That's going a certain way because the Problem is that with this wave count That we have here at the moment in the Sideways range it could be a numerous You know it could be numerous ways this Could be going Um could be a triangle pattern an A Elliott wave triangle that would rather Suggest one more low it could be a one Two with a breakout to the upside However because this is only three waves Up it's not ideal you can count it five Waves but then there's a so-called Truncated wave where the wave 5 is lower Than the wave 3. Also not highly reliable and therefore This is ideal for a range Trader or Trading bot at the moment but if you're A trend Trader you should wait I think Until something's occurring here that Gives you an edge Um and a clear signal will occur above 1290 or above 11 30 Bill sorry below 11

30 below 11 30. um it really risks Coming down to a thousand dollars The good thing on the ethereum chart is Even if we do that which we can't rule Out right so even if we come down lower Below 11 30 it would not necessarily Damage the higher level Um bullish pattern which we have on the Chart Um which is if I zoom out and we talked About that extensively before oops Didn't want to do that we've got this Sort of larger one two setup here from The June low the wave one up the wave Two down and we could rally in a way Three uh but that in this yeah in this In this area down here we could steal Short-term drop to a thousand dollars Without invalidating that right it's Only really below a thousand dollars That I think this whole context of the Chart will flip bearish Yum and because we can still go lower And if we drop below that level I think We're looking at 880 and then 650. Um as key support and Because that can happen I'm very careful With dollar cost averaging at the moment Um I do buy you know small bits and Pieces here and there but it won't Really be until we get a confirmed Bottom in place that I'm going to get a Little bit more let's say aggressive on Dollar cost averaging I explained that

Before in videos that in the current Situation where we're basically catching A folding knife if we buy into it Um it's all about position sizing for me I want to leave funds aside for even Lower prices of course long term we are In a very attractive position here price Wise but it could take a little while to Um to really get settled Um and find the bottom but yeah it is Still this triangle pattern it seems to Be taking forever Um it started obviously on the 9th of November so it's actually not that long We've had longer triangles before we had This endless sideways movement which we Could also count as a triangle Um But in this case it was actually Suggesting a move to the upside which is Different here where if we count it as An Elliott wave triangle it would rather Show another low but again if we do that We can still hold the one thousand Dollar level so it wouldn't threaten That naturally Um but also in this sort of wxy we would Expect a break to the upside so both Scenarios clearly possible Um what is clear is that the longer this Sideways movement takes the market is Losing its strength and we could very Well come down and break the 11 30 level Um but again the one thousand dollar

Level just needs to hold and if not then All we have to do is to reset our Trading range lower so it really is at The moment unfortunately I know it's Frustrating for a lot of people but it Really is like you know Um if this happens then that will most Likely occur there because the structure Leaves interpretation open you know for Various possibilities generally the Ethereum chart is still one of the best Ones out there and it is one that we can Lean towards going up generally Um as long as we're holding the one Thousand dollar level especially as long As we're holding 11 30 but the problem Is and hope you understand that that on The micro here You don't really get an edge And a Competitive Edge against others in The market because the way this wave 1 To the upside occurred is only a three Wave pattern and it's not ideal so what We like to do and you know in terms of Trade setups we're looking for ideal Wave patterns at the moment obviously The best chart out there that sort of Why I'm covering um short term is Chillies works out tremendously well and This is because Chile is really showed From the low here around the 9th of November a really good pattern and we Had two entry points there already and They seem to be playing out with take

Profit position which seems to be Working out as well Although it's again it's just a focus on Best charts out there really because Then that allows you to really trade it Really well if you focus on charts that Are not very reliable like for example Chronos Solana Um what else do we have we have a lot of Charts out there that are just still Looking for lows right chain link They Don't Really Um You know they basically yeah they don't Really adhere perfectly to the trends so You want to look for waves that are Ideal so if I tell you here we have a Possible one two setup surely can work Out but it's not necessarily high Probability when I look for the best Charts out there that are currently Developing nice five wave structures and Chili's is one of them Um and we're just waiting for for the Next one right um but here this could Work out as well it's just that this is The support area and it can hold of Course we are in support now Um and these support areas they allow us To set stop losses quite tight we want To you know if we want to go long here We can set the stop loss for example Below the yellow box or even below the Beginning of that wave one and that's

One way of doing it or just setting it Below the larger let's call it Invalidation point below a thousand Dollars and if it breaks not a big deal Because then we just reset our trading Range lower but this is a fantastic Reward to risk um in my opinion All you need to understand is that it's Not necessarily super high probability Because of the internal structures here To work out long but the reward I mean We talked about you know let's say Ethereum really has the bear Market Bottom in already then the possible Reward I mean we talk about long-term Targets of eight to ten thousand for Ethereum maybe even higher one day Um and a possible risk here of dropping To a thousand dollars maybe a little bit Lower where um Below that you would get stopped out Anyway right so it's it's sort of just That consideration everybody needs to Take for themselves at the moment we are Coming down here 1200 it it you know it Currently makes the appearance or it Appears to be putting that c wave in but It's a bit too early to really confirm That Um the way this looks like but they were Really doing micro counting here instead This could have been a wave one two and We're now putting the three in two to The red candle here then there will be a

Four and a five to come down in the C Way finally close to the 11 30 level and That will be the next key decision point To see and to know if ethereum is really Bottoming out already here or not Because if we get a balance at 11 30 or Slightly above that it would be a strong Signal that we have really done a one Two setup here 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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