Foreign Video about ethereum well we see a nice Green candle here um looks interesting Could be a wave three so let's take a Look at that for everybody who's new Here on the channel we expected a Reversal here and the yellow support Area it seems to be working out at the Moment yeah it seems to be the early Signals that this correction to the Downset is over have been triggered but We still need to be a bit careful it is Not yet confirmed we only have three Ways to the upside this can fail again So we need to be careful I did scale Into the yellow support area as Suggested Um well not suggested but as explained Before and let's see Um let's see if it's gonna work out so The idea here Was that we're moving up in wave one Come down in two The Wave 3 is still Ongoing there should be a four and five We're now in this yellow wave three Where we've got a target of around 1500 I think Um and then um within the yellow wave Three however we've got our wave one to The upside and then Um we had hero wave two yeah that is Still currently the idea that the Wave 2 Ended here that was on the 7th of December I believe yeah and that sort of
Region around 12 30. and we are now in This Um wave three in the white circle and Then there will be a wave four and five All of this is playing out within the Yellow Wave 3 because the yellow Wave 3 Which is sort of the theory of freckles Behind Elliot waves also the yellow Wave 3 has five sub waves so we need to find Five waves within wave three in yellow Um and um yeah you know that's the Expectation so I have to actually move That here so we have that one two setup We're now in the third wave in the white Circle in that third wave we've got five Waves as well yeah and I've got them Highlighted here is the yellow numbers We had here wave one hero wave two came Into the support area twice actually we Hit it here then I told you this is not Yet a convincing move to the upside Looks very much like three waves Looked likely then we come down again Which we did Um came deeper into the yellow support Area which which is good but now we Should really do it if we if we don't do It now then I think it's gonna fail so It really needs to happen now that we Move higher and that would be the way Three here then there would be a four And five with that we would close off The White Wave three in the well or in The white circle right
Um target for this yellow wave Three It's around at the moment with the Latest decline it is around 1355 that Yellow wave 3. so what does it tell us It tells us that if this is now the Breakout in this yellow Wave 3 just need To move these across here Then Okay then we should also blast through These resistance areas here yeah Which is this descending trend line Which will be hit very very shortly at 1280 so when you watch the video maybe We've hit the 1280 level already we'll Probably come down then even if it's Just a little bit Um but then we should if this is the Wave three we should eventually go Through it Um it's important still yeah because we Don't have five waves yet and I'm gonna Zoom in in a minute but it's important Still to hold this yellow support area At 12 35 12 36 if we lose it we're going To find more support in the green Support area that goes down to 1185 Below 1185 I think this bullish scenario Isn't going to work out unfortunately Yeah and then against Um the likelihood of a short-term upside The Bears will be in control if we had a Bit of fighting of the Bears and bullsey In the last couple weeks and we talked
About that we had here strong decline Um had the Bears pushed it a little bit Lower we would have failed as well the Boost would have failed and the Bears Would have completely been in control But the Bears failed in the end on the Way up here the Bulls failed didn't push Through straight away so we had an Extended correction so yeah you know It's it's interesting this is a moment Of truth now because I believe if we Don't do it now this yellow one two Setup is going to fail because if we get Another retracement down yeah below that Swing low so we shouldn't really drop Below 42 anymore that's very short term Now very short-term support if we drop Below this wave too low then I think We're going to get into the green box And then we still have a chance to Rally But this imminent setup isn't going to Work out then okay which doesn't mean Then if we if we fail now we're gonna go Full bear mode but we'll probably look At a much deeper retracement it's it's Absolutely crucial that in the move to The upside now we get five waves and Then hold Wave 2 support because in this Yellow Wave 3 what did I tell you 1355 Is Target or something yeah Um We need to see five waves as well at the Moment I see a wave one a wave two wave Three probably still ongoing so this
Should push higher okay Um if it wants to succeed so we've got Here then here a one here are two most Likely yeah Um then this could be a three there Should be a four and a five now I need To go to the lower level a low degree Wave count now Um And this wave three in my opinion I Don't see really I mean I don't see five Waves in the way three yet So this could obviously be some kind of An ugly leading diagonal here Um in a way three yeah wave one Two maybe Small hidden somewhere here Then this could be a three of three Then there should be a four so in this In this one here we should get a small Four and five as well that could be then The way three then there should be a Four and a five and this would be our Five wave move Um after which we should come down in an ABC correction in a wave two now I can't Give you a target for that yet because I Don't know where it's gonna stop but Crucially as if we push higher here we Should not lose Critical support if you come down to Load especially if we break below the Wave one high here so if you break below 1256 that's the first indication we're Going to fail if we then drop below 1242
I think we're gonna also lose 12 35 and Then come into the green support area Um where are we in terms of targets for This Wave 3 you know that four-way three We look at the 1.618 extension I think We've reached that probably Yeah so we did and uh if you look at This As I just mentioned actually if we had Here one two or something hidden then We've got here the three probably this Could be the four and then a five of Three and that could reach the 1278 Level then come down in four and push High and five so that'd be that would be Great it would be appreciated and then Hopefully we're gonna hold support Because the wide wave kinda just added Here This is gonna form a wave one Larger degree wave one and then we Should come down to two then we should Move in three of three and so on that's How it Cascades higher you know Um so it will be interesting that's sort Of the the suggestion I have for this That's the view I have for this looks Interesting at the moment especially the Strong move to the upside here Um let's see when you watch the video if We're already pushing higher would be Ideal it's good volume is coming in yeah It's the volatility before cpio that we See here so it's it's interesting so I
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