Ethereum ETH Price News Today – Technical Analysis Update, Price Now! Elliott Wave Price Prediction!

Ethereum ETH Price News Today - Technical Analysis Update, Price Now! Elliott Wave Price Prediction!

Foreign Video about ethereum so ethereum did Have quite a sizable pullback here which Does not necessarily look corrective Anymore and it actually looks quite Impulsive and it is basically the first Warning we get here that things could be Turning around yeah we have to be aware Of that so I'm going to take you through Three main scenarios that I'm now Observing Um which all possibilities stage but I'm Going to tell you what will verify each Of these scenarios So Um generally what we can see here is That not too much has changed if we zoom Out yeah we bounced off below resistance Right so um we are still hovering below This red resistance area we briefly Broke above it previously but couldn't Really push through we didn't hold it so We came down again Um there are there are basically three Scenarios let me talk you through each Of them Um we start with the one That is sort of the most probably the Short term most bullish one and this is The one that I still have on the chart Here where we say from the low on the 9th of November we moved up in wave a we Came down to B we're now moving up in a C that's the one that you know that we

Talked about extensively and that in This wave C we've now seen a wave one a Wave two We are now basically in a third wave We're coming down in four and five So this one would be validated if we Break above 1308 yeah 1308 US dollars if we break Above This Previous wave one that would be the Confirmation that we are exactly in this Pattern here that we are now moving up Next in a wave three Um or basically as we are in yellow Wave 3 but that we have that we are now gonna Rally higher maybe into the region Around fourteen hundred dollars as Suggested earlier Problem with that count is that we are Pulling back quite strongly so if I zoom In a little bit it would it would have To be that this is a wave one to the Upside and hero wave two In this particular scenario so let me Show you oops do that Hmm So that this was wave one yeah and then That we're coming down in two now there Will be a three up a four down and a Five up and the break above 1308 would Confirm that we are in the third wave to The upside Um Again the problem with that is actually

That we have five waves to the downside So I can count five waves down it's a Bit concerning right so um it's the First warning that this is actually Quite This is getting quite unlikely now it's Getting challenged we've now retraced Okay we have retraced to the 78.6 flip Level at around 1750 that is why I Already posted on Telegram and Discord Earlier when we saw that red candle Merge told the channel members that the Immediate bullish scenario is sort of Limited to 1250 So Below 1250 this is Most likely not going to work out Anymore What would be the key scenario if we Drop below 1250 well okay we're basic we Could still drop basically to 12 38 Without invalidating this possible one Two setup but it is just very unlikely Below 1250. so the other scenario would Be That this Wave 2 Circle Wave 2 was Actually never finished That is possible because it actually Didn't retrace very much so if we draw The FIP You can see that we only retrace to the 38.2 percent flip level which is not a Lot for a wave 2. so it could very well Be That what we've got here Is just an a wave here a b and we're

Coming down in C That would be A good confirmation Um Well no how do I how to frame this the Fact that we've come down now in five Waves actually would confirm this yeah So I'm actually leaning a little bit Towards this scenario this would still Be a bullish case that we've got here a One two one two setup but in this Scenario and I said that before as well It's not a new scenario we talked about That before in this wave too we are Limited to 1185 I called out the 1185 Level before because this is again The 78.6 FIB level okay so very easy Below 1250 this scenario will get much More likely and Below 12 38 I will go with this one this Is still a bullish scenario we just have To expect a stronger retracement So that was this one yeah so just to Summarize the previous one the imminent Bullish one would get validated if we Break above 1308 The second one here will get validated If we drop below 1250 and then follow Through to drop below 1238. Okay and then we've got the third Scenario it's also not an unknown one It's the bearish case the one that I Made you aware when we were here at Around thirteen hundred dollars yeah or

Just a little bit below that because I Made you aware that this could not only Be an ABC scenario it could very well be A w x y w x y and in the Y wave we've Got enough waves to complete this that Is why I've got here top in place Question mark okay so anybody who Listened to the previous videos knows That data was an increased risk here That we could drop down therefore top in Place question mark yeah because for a Wxy pattern we have enough Um We have enough Um yeah waves in place right so this is Also not too unlikely and given the fact That we have now dropped down in five Waves Makes this also a considerable Um or a scenario that we need to Consider with a high likelihood The problem is that we won't really know So that let's say below 1250 we've got The wxy scenario which is very likely And the one where we come down in a c Wave of two so these will be the Competing scenarios and we will really Only know below 1185 Which of these scenarios we're in yeah Because below 1185 The Wave 2 scenario Here will get less likely that's the Second one I showed you Um what do I expect now so If we say

And I said you know the imminent bullish Scenario is probably getting less likely Now Um but I will still consider it as long As we're above 1250. But the problem is that we came down in Five waves okay so Um what I would primarily expect now Is that we're coming down doing Something like this wave one down now a Corrective pullback in a two Come down in three next move up in four And come down and five off C Of two And what you need to understand is that If we now really let me just move that Across first So yeah yeah so if we If we now see a corrective pullback and Cannot push above 1308 then expect a Strong sell-off in a wave 3. yeah Um Of course first of all pullback now or Maybe even Five wave move up the next move up will Give us a really really strong clue About how is this going to unfold Probably in the next day or two because If this now is going to break 1310 or 1308 on the move up we're gonna probably Have all our possibilities open to Rally To 1400. but if it's going to be a Corrective pullback where we might only Get to 1280 or so then expect a strong

Rally or a strong sell-off down in a Wave 3. and then at 1185 we will see the Decision Is it the one two setup scenario or is It the wxy scenario where we're going to Make a new law interesting chart I'll Definitely keep you updated 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 Thank you

Leave a Reply

Your email address will not be published. Required fields are marked *