Elliott Wave analysis for Ethereum 19.08.2022

A big correction [B] continues forming for the ETHUSD crypto pair. It may end soon as a double zigzag (W)-(X)-(Y). The final sub-wave (Y) is currently developing and will likely end as a regular zigzag A-B-C. Its impulse wave C is half-completed. The price may rise in sub-waves [3]-[4]-[5] to level 2209.00 in the nearest time. Wave [B] will be 50% of the previous impulse wave [A] at that level.

Trading plan for ETHUSD for today:

Buy 1818.69,

Take profit: 2209.00.







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