Foreign [Music] So ethereum is moving up in five waves We talked about that in the previous Video we also seem to be getting this Retracement we've been waiting for so I Did Count this move from the low as a So-called one two one two setup they are Good long trade setup now don't set up Don't get me wrong I'm not telling you To go long here Um it depends on you yeah but Based on the edit wave if this setup Works out it is a really good one right And of course you never know if it Really works out but these are the Lowest risk highest reward setups that You can get a one two setup and this is Actually the one two one two which means We're already in the third wave in Yellow Which means that a sort of uptrend has Been confirmed to a certain degree You can see that we actually broke out Of this channel here a few um well a few Days ago yeah so we broke out you can Even move that a bit well lower to get More touch points but the point is we Broke out of this Channel and we might Now just be retesting it from above and Then move up I showed you a few possible Reversal signals to the upside there is Obviously the breakout of the channel Which we might just be retesting from
Above which if successful could lead to A rally also we've got this um so-called Inverse Head and Shoulders pattern Yeah where we have um basically the Neckline here around 12 14 or you could Even say it's space it's a bit of a Range between 12 14 and 12 26. If we break out above that level it Could take us around to around 1400 US Dollars and from an adjective point of View yeah it's basically that Retracement we've been waiting for is Happening Um it is this wave too ideally yeah Ideally we move up from here Um that would be the best case Okay Because then I could say okay we found In this Blue Wave 2 support at the 61.8 Percent flip level To be fair we already see in bullish Engulfing candle here but it's not Enough to really confirm support Um if we go a bit lower then ideally We're holding support at the 78.6 Percent flip level at 1162. if we lose That and indeed also go below the yellow Wave tool then I would have to count This entire move up sof1 Which is possible yeah but then I will Have to look for support lower but it Would decrease the probability of Actually um generally finding support Yeah so because we go back into the Channel and it then gets a bit of a mess
But still we still have another chance To find support at 1105 and then to move Up so the current scenario I have here On the chart With meaning a short-term uptrend Further uptrend I won't Um get rid of until we break below 1105. So first one two one two and then if That fails the larger one two setup And then we could move up in the third Wave to the upside again to around 30 Maybe 1350 to 1400 US dollars in a wave Three now that would not necessarily be The Super bullish scenario but it would Be embedded that at least would be my First call in this Wave 4 which means That the move that we've seen since the 9th of November was just a wave a b and C And the c-wave is a five wave move wave One basically here one two three four Five Then if we then hold a retracement and The certain support level which I'm Going to give you then that would be a Good signal that we're actually moving Higher And if we get these five waves in You know then we can talk about a real Real low has been made and the low is Probably already in then again I would Wait for the retracement and go in I'm Already long Um I will get stopped Out Below a
Thousand dollars talked about that as Well So I'm happy if prices go up from here Even if it's only short term so I can't Rule out obviously lower prices from Generally Um but we use the one thousand dollar Level to confirm or to determine if Ethereum is still in a larger bullish Pattern or not if it drops below a Thousand dollar it won't be and then we Look at prices all the way down to Well let's say 650 maybe 880 okay and That's my update about Um Ethereum so hopefully 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 [Music] Thank you