Foreign To another update video about ethereum Actually didn't want to do another Update video but It's it's great Um it has pushed through resistance yeah We knew that should we break this 12 30 level that we've been waiting for That all weekend that the price is most Likely going to push into the next Resistance area so it's working out Nicely inverse Head and Shoulders that We talked about today has worked out as Well so we had here our left shoulder Head Right shoulder and we talked about a Target yeah we looked at the height of The head we said when we added to the Breakout Point well yeah it takes us Into the middle of this area which yeah Basically we are there it's it's worked Out Um and um you know we've seen over the Last few days that this pattern that Ethereum developed Pretty much worked out and it's you know On the shorter time frames those wave Counts they are never 100 you know Accurate because you know you get Distorted waves you get you know they Are fragile especially on the shorter Time frames but over the last few days It has worked out so nice we've come Into this support area that was a buying
Area we pushed higher from here Um I am now going to move up my stop losses Um Just to make sure that I'm not going to Lose any money should the price drop Lower I'm extremely happy with that Latest movement Um because everybody was following the Channel Knows that this was a support this was a Buy area For ethereum this was the last Bay Area Um I can't remember if we had one before Here but I told you that I bought it 11 30 and 12 10. so that's all sorted Um Those were more substantial positions For my core positions and This is currently looking good we are Now in this next retracement uh no next Resistance area here which is now Between 1270 and 1290. lots of volume Coming in Um just after the daily candle open Close whatever Um we're now obviously overboard on the One hour we are now overboard on the Four hour yeah we are probably not get Overboard on The Daily which makes me Think no not by far we've only really Come into the above 50 area on the daily So that's all looking really really good And um the push that we've seen now and
Nobody should be surprised by that we've Been talking about that extensively that Upside is expected from here as long as We hold above eleven hundred dollars so Nobody should be surprised here yeah Repeating that in every video that as Long as we're above 1100 we can wait for Higher prices yeah Um and also that a breakthrough this Area is actually expected okay so the The fact that this is a strong push just Confirms my view at the moment at least That this is a wave three of three or Generally away three because this is the Area where you see the strongest Movements yeah Um And Um yeah I mean my latest view is that This year was most likely already the First wave of the Third Was unlikely well this was the view Um The View will actually this was the wave One but the lack of The lack of any retracement here Makes me Makes me consider that this has to be a Five wave move one two Three four five and then this was a very Shallow wave too Unlikely for such a wave two but it it Is probably the best color at the moment We have to observe this now a little bit
But for me this is the most likely Pattern now and this is in the way three Um probably tomorrow morning I'll know a Bit more and I've got a better picture Of this structure I just want to update You normally I wouldn't have made Another video but this push Made me to um So the Wave 3 would then take us to 1313 Ideally here this this yellow wave three And then there should be a wave four And away five So yeah just confirms my view what I'm Going to do now is move up my stop Losses I'll make channel members where Which levels I will set them to Um just to make sure I'm not gonna if I Get stopped out at least in profit right Um I will leave some stop losses of these Positions below a thousand dollars Because they are my key core position And yeah that's my update so Continuation to the upside generally Expected of course now after such a Strong move most likely sideways Movement or some profit taking and the Key is now that support levels are Holding we do not want to drop below the 1200 level now in the short term and Generally The View remains as long as we Are above 1100 Um further upside expected so hope you All had good trades here hope you like
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