ETHUSD - Less risk and 14% profit

After a solid upwards movement in the past days it's time to publish an analysis on ethereum. ETHUSD

I am sure that everybody remembers my past analysis (11.5.2020) on ethereum in which i announced a long entry.
The traders who followed my advice can already enjoy a gain of 14%, be aware that i already decreased my stop-loss to 397.9! (Past 368.76$)

In the next weeks i expect ethereum to reach prices above 500$ and it's very likely that we reach our profit target at 540$.
The chart will unfold in a classic 1-2-3-4-5 wave structure, however a risk on the downside still exists.

If ethereum should break below 436$ and 397$ we will correct very likely to prices below 250$. However the RSI is looking good and we still have some space upwards.
Keep in mind that ethereum forms a solid 1-2 in the long run, so don't be nervous about future price movements.

Current setup:

Entry: 408.63$
Profit target: 544$
Stop-Loss: 397.9$

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If you have questions related to a specific stock or the Elliot Wave theory, feel free to contact me.

Trade active:

Trade still active since 11.5.2020 !