just my idea

9 ott 2022

ETHUSD

Hello, my dear friends, I hope you are well, I will share my Ethereum analysis with you, of course, on a weekly basis :

In Ethereum, the chart is so clear that there is no need to explain it, however, I will explain it for my review :
First, I check in weekly time and I have a Fibonacci from the beginning of Ethereum price growth, which was on May 9, 2020, at the price of 71$, to its highest historical price, which was on November 8, 2021, which was 4,630 $, and from there it started to fall. It has formed a 5-wave Elliott, which has followed all its rules, and now it is at the beginning of the 5th wave, and I have specified its goals on the chart, and if it can break the important support area, it will drop a lot technically.

Gist:The return of its price on June 27, 2022, increased from the price of $847 to $2078 and it has reacted in the important Fibonacci area of 0.618 and started to fall, and in my opinion it is the correction of wave 4, which is using Fibonacci on the wave We can see that the previous wave 3 reacted in the 0.382 area and started to fall


I hope you are happy wherever you are in the world :)