Foreign [Music] Welcome to another update video about Ethereum we just focus on the short term Because everything else was discussed in The previous video Um I just want to keep you updated here Because we made that one more lower low That we talked about in the previous Video remember when we were oops no when We were in the previous video yeah when I recorded the previous video Um I talked about that there is still One more wave down missing yeah Um because if we see the move that Started from the low here around 1075 To the upside in this five wave impulse Let me just show you the impulse again Five waves We count it and I don't show you all the Sub waves but this is a one Two Three This is the four we've got the five okay So this five wave structure here Um it's an impulse Which is a good sign which means after This correction we could get another Impulse to the upside which means Short-term upside potential Um after finishing this obviously we Looked at this as an A B C pattern Everything here worked out so nice yeah Looked at this as a bearish pattern yeah
Anticipated a breakdown from here at Least I warned you about that because it Is generally a bearish wave pattern Um or generally trading pattern yeah Structural pattern Um that you would usually expect to Break to the downside a pattern of Exhaustion that played out we came down Um here now in five waves yes you could Argue five waves in this ABC pattern the C wave is a five wave move we can count Um five now because in my last video I Think we were somewhere around 1170 and I told you I would like to see One more leg down which then also Happened we hit the support area here Which was at Um yeah 1150 I think just after I made My last video So scenario basically fulfilled but We then also saw exactly where it needed To be Quite a nice green engulfing candle But so far it hasn't really played out Okay so I'm still wondering if we maybe See one more leg down yeah I wouldn't be Surprised if we come down sort of in the Region 1150 again Maybe even 11 35 yeah or even 1100. But that would be quite a strong setup I'd rather look at maybe 11 35 to 1150 Somewhere okay so that's very much Possible however it could be finished Because we saw that lower low so we're
Now in a state where we can say look This has done everything it needed to do In this wave to hit the support area Yeah bounced off resistance here came Into support and is now ready to rumble Um so this could already be If we go to the lower time frame This could be a five wave move up and we Now here in a small a small one two Setup but I would really only confirm That as soon as we get above 1183 that Would be a signal that indeed we are Going higher yeah Um the First Signal really So Still looking maybe for for one more Lower low here so wouldn't be surprised But a move above 1183 would for me be The very first strong indication that We're heading higher then the next Indication would be a break Above This Wave a low at 1200 and then we need to Break Above This resistance range Between 12 14 and 12 26 and then we can Move higher then next resistance would Be around 12 70 12 90 but this is not Target Target would be around the 1400 Mark Target for the larger wave three Yeah so let's read just everything I Wanted to to show you here just to make You aware that This could still be A Way Forward we're Doing here you know so it could very Well be that we just saw here an A B C
And we're now coming down in a fifth Wave that all of this was just a fourth Wave but you know need to be open here This could be finished Um so it's all about which which point Do we break out now right so all the Steps fulfilled Now it's time to watch not time to be Bored and leave the market it's time to Watch because something interesting Could happen here soon but primary Expectation would be at the moment Because we have failed to deliver on the Bullish reversal yet Um would be still one more let down here Okay that's my update about ethereum 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 [Music] Thank you