Ethereum ETHUSDT Bullish Move Elliot Waves Principle 4H TF

13 thg 8, 2020

Good Day Viewers!

SIGNIFICANCE:

We already have witnessed bullish moves of ETHUSDT since few months as a leading altcoin of Majors. Ethereum 2.0 has mad it a demanding security affecting it Fundamentally and Technically.

ELLIOT WAVE PRINCIPLE:

We can notice a typical extended third wave completion followed by a pennant in corrective wave i.e wave 4 and hence can conclude a 5th wave also exists. Possibility of Breakout from the triangle may lead the formation of 5th wave of 1 Cycle of larger degree.
On the scale of lesser degree we have witnessed complete cycle of 5 waves making Wave 1 of larger degree leaving us with the formation of 3rd wave (also extended) of larger degree may exist too.

ENTRY:
The possible entry is at the confirmation of the S/R Flip of the symmetrical Triangle providing we hold the 50MA & 20EMA and make higher high and higher low.

POTENTIAL TARGETS:

Elliot wave Principle tells us one of the wave is extended (mostly 3rd which is the case), and which leaves us to believe 5th wave to extent of length same as 1st wave.
$460-480 is the level range agreeing to the Elliot Wave Principle as well as Fib-Levels & from previous S/R.

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