Elliott wave Ethereum analysis

14 feb 2022

The ETHUSD chart displays the middle leg of the large corrective trend unfolding as a triple zigzag. The current chart displays the final part of the motive wave Y and the structure of the linking wave XX. The XX wave must have completed as a double zigzag [W]-[X]-[Y]. The most recent chart section shows the beginning of the bearish wave unfolding as an impulse. The first sub-wave of the potential impulse must have completed as a leading diagonal. The price should be rising in correction [2] to a level of 3056, where wave [2] will retrace wave [1] by 50%.

Trading plan for ETHUSD today:
Buy 2865.04, Take profit: 3056.00.