Elliott wave Ethereum analysis

4 Feb 2022

The ETHUSD market has been rising since late January. There should be forming the linking wave XX of the global triple zigzag. The XX wave could be developing as a double zigzag [W]-[X]-[Y], with the final sub-wave [Y] unfolding inside. The [Y] wave must be forming as a triple zigzag (W)-(X)-(Y)-(XX)-(Z). The market should be rising in the final sub-wave (Z). The (Z) wave should end at a level of 2875.00, where wave [Y] will be 100% of the [W] wave, according to the Fibonacci retracements.

Trading plan for ETHUSD today:
Buy 2682.87, Take profit: 2875.00.