Foreign Currently continues to follow the Primary expectation in this waveform Um primary expectation is that we are Generally here in an uptrend or at least A short-term uptrend I'm not ruling out That we are going to see one more low Afterwards in fact that is at the moment Primary expectation but short-term Upside is currently the plan as long as We're staying above 1100 U.S dollars Yeah we can focus generally on getting Into the region around let's say the High 1300s 1400 yeah Um This is the wave cone that we've been Waiting for that we well that we are Following actually wave one here to the Upside which peaked on the 26th of November we then came down in a wave 2 Where we hit our reversal area as Expected we then moved up in a third Wave And in this third wave we've got sub Waves and a third wave consists of five Waves I currently think that we have Seen a wave one we have seen a wave two We are now in a third wave of the third There will be a fourth wave and the Fifth wave of the Third Um important is that in this third wave Of the third Um We have five waves as well yeah we have
Five waves we've got our wide wave count Within this yellow wave three and this Is our wave one two here the wave three The wave four and the wave five In this wave Four In which we currently are We need to maintain a certain support Level so we need to hold a certain level We're going to talk about that before we Talk about that what is actually the Target here for the yellow Wave 3 when It's finished the target is All right I think it was around 1315 Yeah 1316 here I would say between you Know 13 15 and 1320 would be ideal Target that's the 1.618 extension of the Wave one Perfect Target for away three and Realistic if I look at the length of These waves okay At the moment we are in this way for a Little bit of sideways movement is Usually expected in a way for a shallow Retracement as expected at the moment We're doing that Um therefore we can currently assume It's a waveform And all we're doing is Um fulfilling the primary expectation Because the ideal the ideal Target for a Wave 4 is the 50 the 38.2 percent flip Level at 12 54. I think I remember that I talked to
You in the previous video about I think We were here I talked to you about my Primary expectation has to be that we Come down a bit lower because the 38.2 Percent flip level 1254 1255 is the Ideal level of a wave 4 and when we hit This I expect the bounce if we don't get A bounce it could still Bounce from 1246 The 50 FIB level only going below that Level would indicate that something else Is going on here it's not a way for it Might be another one two setup here Um But until not until then the idea is to Find support in this region here I'm Gonna show you that actually highlighted Somewhere between the 50 FIB level and The 23.6 percent February these are Always four away for the retracement Levels that you would expect from here We can then move up in a fifth wave to The upside okay Um you can also call this some kind of a Bull flag there's different ways of Drawing this this or this you know Doesn't really matter too much probably Rather use this one with the wigs Um but a breakout of the bull flag would Indicate continuation to the upside Um And from here yeah we could then reach The 1315 level roughly yeah in the first Step because this would only be the Third wave
Of the third there should be a Fourth wave after the third and a fifth Wave as well So first of all finish off the third Wave in yellow here the fourth wave and The Fifth Fifth wave to complete the Higher degree wave three then there will Be a higher degree wave four and wave Five and then that is when we will then Get the decision Point Um Is this really only all part of a Corrective wave pattern here And we will make new lows afterwards or Is this actually already a proper Breakout a proper impulse Do we hold support and we'll rally Afterwards this is a bit too early to Say yet yeah it all depends on the kind Of support levels that we're going to Hold afterwards and of course I will Keep you updated about which support Levels are of high relevance 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