In the ETH/USD 1W timeframe, 1750 becomes the key level to watch.
Bullish case (purple count): If we see a strong bounce from the 1750 level (23.6% of wave (iii)) to confirm wave (iv), we may be welcoming a wave (v) that takes ETH to $8000-12000 as well as a nice alt season soon.
Bearish case (red count): If ETH fails to hold the 1750 level, things may get...
Based on Elliott Wave Theory, looking at BTC in the Macro picture, Wave 3 ended at 69k. Wave 4 is likely to see a retracement back to 17-25k by end of 2022 before Wave 5 finishes the cycle at 100k+ in 2023.
