Elliott wave Ethereum analysis 08.11.2022

The H1 ETHUSD timeframe shows the construction of the first actionary wave of a bullish standard zigzag, i.e. wave (A). It is similar to a simple five-wave impulse composed of sub-waves 1-2-3-4-5. The corrective decline within sub-wave 4 has recently ended, so the price may soon rise within sub-wave 5. Wave 5 may end near the level of 1697.00. At this level, its value will be equal to 61.8% of impulse 3.

Trading plan for ETHUSD today:

Buy 1458.26,

Take profit: 1697.00.

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