Foreign Welcome to another update video about Ethereum so ethereum is basically Unchanged to the previous video which is A bit annoying but Um what I find quite quite funny here is That we are creating something like Another inverse Head and Shoulders you Know we did that before we had here this Massive inverse was not massive but it's Quite substantial this inverse Head and Shoulders which did not work out so here Left shoulder head Right shoulder and now we create a small Left shoulder head Right shoulder interesting isn't it so That's just something to to keep our Look out for Um this is all pushing against this Resistance I mean I can just Let me take those out again those Patterns here you can just draw or Extend this red resistance area to the Right hand side this is key resistance You can see that Um how relevant it is and has been and Whenever we hit this resistance we're Bouncing off so of course you know this Can always be used for short trade if You'd like to but for me at the moment And I did say that before As long as we hold above the 1100 level Generally the trend is up for me you Know the short-term trend is up the 100
Level is um Is the level if we drop below that this All possible Short-term bullish One two setup here can work out below 11 Below 1100 yeah it can still work out But it just gets less likely okay so That is highly relevant and from then we Could move up in a third wave to the Upside there would then be a fourth wave And the fifth wave up right so that's What we are looking for Um target for that third wave to the Upside is around like the 1400 range That's still what we're waiting for so I'm really looking at this possibly Being a wave one to the upside this Being a wave to We had this long area triggered Yesterday yeah and this is just Something very important because Sometimes good questions these are areas That I Define where The price will with a high likelihood Reverse so you can trade them you know You can do that if you like to I can Only share with you what I think is Going to happen I can't give you you Know Financial or trading advice really Because I'm analyzing these charts and I Can give you my idea when when prices Are going to turn around here for Example that was a short trade area and When we came into it we bounced off
First yeah We came into it again bounced off again Reached then this long trade area Unfortunately only touched it where we Did get into it didn't take long and That's why I sometimes I can't say I Recommend but what I do I use often limit order so I place a Limit order in these areas yeah of Course you never know where exactly the Price is going to turn around you know There is a limit to TA you know you Can't You can't obviously uh say right in in One hour the price is going to turn Around at exactly 11 40. you know it's Obviously not possible but there are Price areas where prices will with a High likelihood turn around yeah and if You've been following this channel you Will know that this is possible of Course it doesn't work 100 of the time Of course not you know otherwise it you Know there is no certainty in these Markets but probabilities Um but there is a high likelihood that You're not going to when the price gets Into this area that you are going to Watch the screen and place a buy order Right when it happens you will miss this Therefore limit orders can be useful and Therefore I usually stagger my buy Orders in these areas yeah I didn't use This area simply because I did already
Buy before at 11 30 I think a week ago Or so so there was no point me buying Again at 11.50 Um So but yeah buying a living setting a Limit over here setting one here setting One here if the lower two don't trigger That's fine you know use the next entry But um I know a lot of people miss these areas Because they don't Place limit orders And then they regret it afterwards but You know it's up to you how you manage This but limit orders are usually what You would need with these because There is always the risk that you come Into it either when you sleep uh Whatever you know or you miss it because It might only take 10 minutes and then You you go out of it you know it's the Market moves at the speed it you know it Needs Um how long a movement takes is not you Can't forecast that but you can forecast With I think a fairly high accuracy Which price ranges will be reached in Which wave Provided you've got the right wave count Right at the moment it seems to be the Right wave count it has been adhering Very nicely for the last couple of weeks Here to this short-term wave count so at The moment my view is that we should get Here in this movement from this low
Yesterday should get one more leg up but Before we do that we could first go down Deeper in wave four there is currently No evidence Wave 4 is finished so this Would be in the micro here a wave one a Wave 2 a wave three a wave four and away Five The Wave 4 was only very short so Basically the markets haven't really Moved since earlier today when I made my Last video but the point is the ideal Target for a wave 4 is always a 38.2 Percent FIB level also in crypto Um we haven't reached that level we Don't need to reach it but if we haven't Reached it then the chances are still Quite high that we will still reach it Because it's just the ideal Target for Wave four the price is usually not sort Of drawn to that price Um in the way four now we haven't Reached it yet so my primary expectation At the moment has to be that we will Still reach it Of course we're currently pushing higher As well so there is a chance that we go Up straight away but it wouldn't really Matter to me because this is not a way If I would trade you know there's just Not enough in it Um from where we're now 1216 what you Might get out of this wave 5 is maybe Maybe up to 12.50 Um Maybe up to 1250 but it would certainly
Be interesting if we come down once more Lower here to maybe 1200 in this way for You know then it might be a but it's a Very short term long opportunity Um we could even go down to 1190 the 50 FIB level but below that I would not be Confident that this move is still going To work out because then you don't get Five waves which means you know if we Drop below the 50 flip level at 1190 This is most likely not going to be away 4 anymore because the way 4 normally Doesn't retrace more than 50 percent Then we most likely have to be prepared For new lows because the bullish pattern Is broken and it's failed to impulse Um and then when we get this fifth wave To the upside then I would wait for the ABC and then we have another one two Setup and this would be After the yellow one two setup which we Had which worked out so far we then have The blue one two setup in yellow Wave 3 Because the Wave 3 consists of five Waves so it's exciting times very Interesting chart at the moment Um even though not too much is happening But if you understand how this chart Works at the moment it's highly Interesting I think because we're Pushing and pushing against resistance Again bear in mind this could be another Inverse Head and Shoulders does it have To work out bullish no of course not but
They they often do and it's interesting It's just interesting to watch because Um generally the chart trend is up short Term as long as we're above 1100. 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 please check out the Channel membership thanks a lot for Watching bye