Elliott wave Ethereum analysis 06.01.2023

The ETHUSD market forms a double zigzag Y, consisting of sub-waves [W]-[X]-[Y]. Side linking wave [X] has been completed as a double three. Therefore, in the near future, the price may decline within the actionary wave [Y] toward the level of 1050.00. The target is determined using the Fibonacci extension. At the indicated level, wave Y will be 50% of wave W.

Trading plan for ETHUSD for today:

Sell 1248.13,

Take profit: 1050.00.

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