Hello, crypto brothers and sisters!
Today is the great day for Ethereum bulls becuase it’s about to show us much more gains. Of course this potential pump is gonna be the huge trap like on Bitcoin. But here we have huge difference. On the BTC we have complex correction and wave C should not obligatory go higher than wave A. In case of ETH we have the zigzag correction and current wave will break $2000.
Let’s take a look the 1D time frame ETHUSDT chart of the WhiteBit exchange. Wave A was the impulsive one. I am not going to consider it in details, you can just trust me. Earlier I supposed that wave A is actually the wave 4, but it wav the mistake becuase the wave B is very ugly and does not look like the impulsive one. Therefore I have made an assumption that the wave C is happening right now.
Obviously ETH has already finished the waves 1 and 2 and we have the question: has the wave 3 been finished. Price reached the minimal target, but taking into account that the wave C should be very high I consider that wave 3 is gonna be extended one. The $1867 now is my nearest target for this asset. After the followed correcive wave 4 I expect the wave 5 and huge crash after that. Because there are a lot of liquidity below.
In my opinion Ethereum has not finished it’s bear market, but now it’s a very dangerous idea to open both long and shorts and my plan for ETH now is waiting for the wave 3 end and buy at the bottom of the wave 4. I will make an update when take some action on this crypto asset.
Best regards, Ivan
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