Elliott wave Ethereum analysis

17 feb 2022

The ETHUSD market completed the upward linking wave XX, and there is forming a new bearish wave as an impulse. The first two sub-waves of the impulse [1] and [2] have completed. Corrective wave [2] is a double zigzag, it has retraced wave [1] by 76.4%. The large wave [3] is to start unfolding soon, as outlined in the chart. The first target for sell trades is the low of 2827.00, marked by the leading diagonal [1].

Trading plan for ETHUSD today:
Sell 3072.55, Take profit: 2827.00.