Hello traders, Ethereum in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
Based on the count we had for this symbol, the main 1, 2 and 3 waves are over, and we called it the 4 main wave, considering that the trend was not formed in the direction of the 3 main wave.
In previous analyzes, we compared wave 4 with wave 2 and said that this wave was shallow and short in time compared to wave 2, which was deep and time consuming.
But due to the recent descent of wave 5 from the c-wave zigzag, it changed the notion that wave 4 would be a shallow wave, as well as the structure we had for the wave.
Our view now is that wave 4 is formed in the form of a zigzag, which is almost complete, or in the form of a flat, the c wave of which will be shorter than the other waves.
Generally:
We considered the descent to target 1.618 for the c-wave of the zigzag we identified in the analysis to be far-fetched, and expected at least half of this descent to be corrected.
We now think that the uptrend has started, which was either for wave 5 main or for wave b from wave 4, but we may also have another descent to the previous floor before this ascent.
However, our confirmation for this ascent is the breaking of the trend line.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
Based on the count we had for this symbol, the main 1, 2 and 3 waves are over, and we called it the 4 main wave, considering that the trend was not formed in the direction of the 3 main wave.
In previous analyzes, we compared wave 4 with wave 2 and said that this wave was shallow and short in time compared to wave 2, which was deep and time consuming.
But due to the recent descent of wave 5 from the c-wave zigzag, it changed the notion that wave 4 would be a shallow wave, as well as the structure we had for the wave.
Our view now is that wave 4 is formed in the form of a zigzag, which is almost complete, or in the form of a flat, the c wave of which will be shorter than the other waves.
Generally:
We considered the descent to target 1.618 for the c-wave of the zigzag we identified in the analysis to be far-fetched, and expected at least half of this descent to be corrected.
We now think that the uptrend has started, which was either for wave 5 main or for wave b from wave 4, but we may also have another descent to the previous floor before this ascent.
However, our confirmation for this ascent is the breaking of the trend line.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️