Hello, Skyrexians!
Recently we have already made the analysis that ETH is printing the wave C inside the global wave 2 in this bull run. Today we will consider the wave C in details. As you know it shall consists of 5 waves and currently we can see the clear picture that dump can be over or almost over.
Let’s take a look at 12 hours time frame. We can see that each Elliott Wave has reached the normal target. Wave 2 finished at 0.61 Fibonacci. The wave 3 reached exactly 1.61 level. Wave 4 finished inside the 0.5 zone. It gives us confidence that wave 5 will be the same length as the wave 1 and will be finished approximately at $1900. We have already almost seen this price. Moreover, price formed the green dot on Bullish/Bearish Reversal Bar Indicator [Skyrexio] and the divergence with AO. So, this trend could be over already or be very exhausted. The next move is the global wave 3. Target is unchanged: 7k realistic, 10k optimistic.
Best regards,
Skyrexio Team
