ETH weak bounce; Exp flat wave 4 targets 2018 W1 top at 1425
In this weekly chart, the recent bounce of ETH looks weak as it was not able to get above last week’s closing low. An equal bottom at 1753 seems likely. However, since ETH already made a new ATH at 4865 that was higher that the wave 3 top of 4373. I think it will go down lower than 1753 to make wave 4 an
Expanded Flat.
The most probable level would be 1425 which is the top of wave 1 last Jan2018. (EW theory states that Wave 4 should not go lower than the top of wave 1)
1425 will be exactly at 0.236 of my FIB & is also the 0.,786 Fib Ext of the ABC correction. This will end the c wave & start wave 5 sometime in June2022.
The 1753 to 1425 zone would be a good area to average down.
Not trading advice
Expanded Flat.
The most probable level would be 1425 which is the top of wave 1 last Jan2018. (EW theory states that Wave 4 should not go lower than the top of wave 1)
1425 will be exactly at 0.236 of my FIB & is also the 0.,786 Fib Ext of the ABC correction. This will end the c wave & start wave 5 sometime in June2022.
The 1753 to 1425 zone would be a good area to average down.
Not trading advice