EthereumShort
ETHUSD, morning analysis
Two bearish counts for ETHUSD.
This technical analysis sees price action from 4104.56 to 3098.95 as a completed impulse wave.
.5 and .618 fibs drawn/projected from high pivot of 4104.56 to low pivot of 3098.95.
Corrective price action off 3098.95 low to present time, counted as zigzag with Elliott Triangle wave (B).
Less bearish count has larger zigzag structure (in green) with ((C)) targeting the 2000-2500 area.
More bearish count sees a wave ((3)) targeting the 2000 area, with wave ((4)) completing below wave ((1)) low of 3098.95 and an eventual wave ((5)) targeting the June 2022 low of 880.03.
This technical analysis sees price action from 4104.56 to 3098.95 as a completed impulse wave.
.5 and .618 fibs drawn/projected from high pivot of 4104.56 to low pivot of 3098.95.
Corrective price action off 3098.95 low to present time, counted as zigzag with Elliott Triangle wave (B).
Less bearish count has larger zigzag structure (in green) with ((C)) targeting the 2000-2500 area.
More bearish count sees a wave ((3)) targeting the 2000 area, with wave ((4)) completing below wave ((1)) low of 3098.95 and an eventual wave ((5)) targeting the June 2022 low of 880.03.
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