Foreign [Music] So ethereum pushed a bit higher it did Reach 1309 yesterday 1310 that was it I think Wave 5 is in and yeah we pushed high and Got our fifth wave I think already when I made the last video mentioned to you Even though the ideal Target is 1315 That sometimes these ideal targets are Not quite reached So be on the lookout for that and what We now have is here most likely this Yellow wave 4 retracement there's Another way of how these Subways can be Put onto the chart I've left them like That Um I might change them for the next Video it would need a bit of moving Around it would need um yeah this wave One to put that here for example and Um just do a bit of Reshuffling around I just need to see Which one is most likely the or which One is the better Um Is the better wave count but for me Three four this seems valid at the Moment I think That we can find support again in this Support area I think it is because we Have um this by the way is between 1245 and 12th
65. It is this previous Wave 4 and that Usually acts as some really good Support Also if I draw the fibs for this yellow Wave 3 So the retracements it takes us exactly Into the region that is ideal for away Four so if we look at the retracements Here for this yellow off the yellow wave Three into wave four you can see that The 38.2 percent flip level 1269 is the Ideal retracement yeah ideal Target for This Wave 4 and the maximum and it Shouldn't do much more is the 1256 level That is sort of the maximum this way 4 Should do And um the ideal as I said is 1268 said 1269 so I primarily have to expect a Little bit lower prices for this wave Four Um it has however done the minimum it Needs to do but I think we will go lower That's at least At the moment because I don't have a Signal that things are changing as you Can see we've got an ascending trend Line here and this ascending trend line Has been broken that is a sign that Things might go Down further not necessarily to break This entire bullish pattern but just to Get into this region here for the yellow Support level layer or at least between The region between 1256 and 1268 that
Would be an ideal level let me just Mark That and I think 1256 wouldn't be Unrealistic because it is also exactly Where the previous Wave 4 high Of the lower degree Bottomed okay so let me just make them Yellow And from here we could then rally in a Fifth wave That would be ideal if we drop below 12 56 then It might mean that we have Um not fulfilled the bullish potential So I would be extremely careful if we Drop below 1256 it could mean we come Down to generally here the area between 12 25 12 15 and if we drop below that we Could retest 1100. Generally as long as we are above 1100 We can focus here on higher okay so the 1100 level is like is putting the daily Chart Trend here or at least the um For our jar trend to the upside and if We break this level it will mean that we Are most likely going to go down to a Thousand dollars and most likely even Lower so the 1100 level remains for me The point where I say okay above 1100 I Focus on higher into the 1400 region Below 1100 is most likely down okay That's my update about ethereum I hope You liked the update if you did please Hit the like button leave a comment and Subscribe and if you really like the
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