ethereum price action closer to the wedge apex 8/29

Ethereum has just about reached the apex of the descending wedge. from the info gathered of the current price action we can now form a potential roadmap for ethereum short term.we seem to be putting in a wave 4(in yellow) of a bigger elliot wave sequence (in blue). the green boxes are elliot wave targets of fibonacci confluence. the short term box at $305 is putting in the 5th wave(yellow) of a wave 3 (in blue). the longerterm target at $365 is showing fibonacci confluence at that range. please note that the fibonacci extensions and retracements shown here line up with support and resistance line areas.i dont believe this is by accident.i would like to add that the 5th elliot wave in blue looks extended because the breakout of the longterm descending wedge could trigger a big jump to the wave 3 fib target(in orange).

NOTES: the fib fan (not shown here) pulled from multiple elliot wave areas shows me a date of sept 5th for the $365 price action.
NOTES: the macd has gone above the median line.when it trends above the median line it seems to show bullish momentum on this 30 min chart according to previous price action.
NOTES: the yellow wave 4 retracement that is going on right now is showing confluence at $285-$287 before it continues up to $305
NOTES: we are very close to the apex of this longterm wedge.its very possible this was the bottom for ethereum.of course itll be a fight to reach all time highs again.

thanks for your time! please do your own analysis and remember for every bull scenario there is a bear scenario. happy trading!

Rigo

Comment:

Forgot to mention the 4hr RSI is not oversold yet. this info adds to the $305 target probability