An Elliott wave approach to analyze Ethereum 1h chartsteemCreated with Sketch.

in #ethereum2 years ago

let's consider the beginning and source of the current move, the lowest level of July 26th;

Elliott impulse wave 12345 leads us to the recent high;
the 3rd wave itself can be shown as a WXYXZ combo wave;
divergence is probable (highly) in 1h time frame and if it gets confirmation, next move can be the ABC correction waves.

A ends up around the supply zone and C ends up 50% correction of the 12345 wave.

ETHUSDT_2022-07-29_03-07-22.png

you can play the chart to see how things went on since then here:

https://www.tradingview.com/chart/ETHUSDT/KshC9uxD-An-Elliott-wave-approach-to-analyze-Ethereum-1h-chart/

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