Foreign [Music] Welcome to another update video about Ethereum so we are at an interesting Junction here there are basically three Main wave patterns that could play out Now so I'm gonna let you know what are The most likely options here Um what do I do how I how do I handle This right because it's all strategic Thinking always encourage people to try To plan their moves out it's like chess Think strategically you know you play This game against others so think about What they would do and and so on so it's All about strategic so we talk about That in this video and how we can deal With this move So ethereum is moving up as expected Right so we talked about the short term Upside here talked about this inversion And shoulders all of it played out Fantastic we've now reached a level Where I can say that possibly a top is In place I kept the members already Updated on Telegram and Discord I Already took partial profits does it Need to go down from here no But it's all about strategic thinking And not trying to squeeze the last Percent of profit out of everything Because I took partial profits didn't Take full profits still have 60 percent The majority of my position open here
Yeah so the expectation is very clearly That we continue to climb up but this Could occur in a couple of scenarios so First let's talk about the scenario that Maybe even a top is in place This would work in a different wave Count not this wave count It is possible That this year in a way four so I Currently see this as a wave 4 ABC that This is not an ABC but just a so-called W x y scenario for a y wave we now have Enough waves So we have reached with this latest Peak Here at 1310 I think it was yesterday We've reached a point where we can say That possibly A high is in top is in place Right So With this I want to take some partial profits of Course it can go higher and my primary Expectation is it will go higher but I Think it's just to be aware That now we have one wave count where a Pattern can be considered full doesn't Mean it needs to turn around straight Away no and actually I want to wait for Five waves to the downside to determine That we don't have that at this stage at The moment the move down is fairly Corrective so it's all good for further Continuation to the upside don't want to
Scare anyone here For me at the moment primary expectation Remains to the upset just be aware of it And if I see five waves to the downside I will of course make you aware Okay so let's take a look at the primary Expectation here which is the count that You actually see on the screen Where from the most recent low here on The 22nd of November we moved up in a Wave one Part all part of a c wave so all part of This larger ABC pattern here This is Wave 2 all done we are now in a Way three there will be a wave four and Away five that could take us into the 1500 region so just be aware of that That's primary expectation if we zoom in In this particular wave count we have Now reached the support box here already A few times you can see how relevant it Is Based on this I see the Cs wave 4. um And this way four can come down without A problem to around 12 55. not a problem It's got a bit more space so yeah if we Now see five waves to the upside on a Lower time frame and if we see these Moving averages cross one of them is on The one hour by the way they are both on The one hour one of them is the 21 and One is the nine period moving average They cross bullish it's always a good Indication that here in a third wave
Because we are still in an overall third Wave that here the uptrend is continuing Does it work all the time of course not But be aware of it we now actually have A bullish engulfing candle here So this is a trend reversal area where We could start to move higher Target Here around 1340. that's what we said Right in the previous video Um That's the main scenario and that would Finish off the way five or three then There will be a wave four and another Way five There is also another scenario Where we can say that the wave count is A bit different and we can now expect a Stronger retracement exactly for this Scenario and for the bearish one I have taken partial profits because in This other scenario We can say that We had our wave one here we had our Wave 2 here and we're now in the third wave Yes In the third wave we've seen A wave one a wave two We've seen away three away four And all of this Is a large wave five it's absolutely Possible this would finish off a wave One So this is a one two and this it was the One of the third wave
So That means we can now expect a wave 2 to The downside and that would be a quite a Strong retracement this could get into The region Between 12 30 and 1185. So I've literally just before I made This video thought about this Um count so just be aware of it that Means if we drop below 1255 now in the Short term and the primary count gets Unlikely I will switch first to this one Two count and would then add back in Long positions between 1185 and 12 30. If we drop below again it remains my View below first of all I suppose this color would be 1185 I Think we're going to retest 1100 and if We drop below 1100 we can see that we Can see the one thousand dollar level And below that we are most likely going To make a new low but as I said if we From here see a five wave move up or From this alternative support area then We can expect to be in the next wave up With the first Target of around 12 40. And 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 please check out the channel Membership bye Thank you [Music]
Thank you