Similarly to our Bitcoin analysis, Ethereum could be making an expanded flat correction. The current wave we're in now is the C wave, which is made up of 5 waves. We may have seen the completion of the 4th wave and now seeing the 5th wave.
Trade Idea:
- If entering, the safest place to put stops would be above the wave 1 structure as Elliott wave theory suggests that wave 4 should not go beyond wave 1.
- A more aggressive stop would be just above the recent highs
- Targets: 2200, 1800
What do you guys think? Let us know below!
Have you seen our Bitcoin analysis?
Trade Idea:
- If entering, the safest place to put stops would be above the wave 1 structure as Elliott wave theory suggests that wave 4 should not go beyond wave 1.
- A more aggressive stop would be just above the recent highs
- Targets: 2200, 1800
What do you guys think? Let us know below!
Have you seen our Bitcoin analysis?
Trade closed: target reached:
0 drawdown. 47% gain!
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