Elliott wave Ethereum analysis 06.03.2023

ETHUSD H1 timeframe shows that the market continues to build the upward wave A as the impulse [1]-[2]-[3]-[4]-[5]. After the impulse sub-wave [3] was completed, the price declined within the corrective sub-wave [4]. The structure of wave [4] is similar to the triple zigzag (W)-(X)-(Y)-(XX)-(Z), which requires the last sub-wave (Z) to look completed. The market may continue to decline to a low of 1459.29, marked by a corrective sub-wave (4).

Trading plan for ETHUSD for today:

Sell 1556.68,
Take profit: 1459.29.

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