honarparvar

An Elliott wave approach to analyze Ethereum 1h chart

An Elliott wave approach to analyze Ethereum 1h chart

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.

a68008207e16ad866270ef81c664a725288836b4fa7e5cdd481a41e862e6cf6d.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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Emad
Emad

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honarparvar
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