Elliott wave Ethereum analysis 06.12.2022

The Ethereum market continues building a bearish A-B-C zigzag. The first part, impulse wave A, has been completed. Sideways correction B is unfolding as a double three [W]-[X]-[Y]. Linking wave [X] has recently been completed as a double zigzag. Then the market reversed and growth in the final actionary wave [Y] began. Wave [Y] may take the shape of a zigzag (A)-(B)-(C). This zigzag is expected to end near the high of 1346.56 marked by the wave [W].

Trading plan for ETHUSD today:

Buy 1259.55,

Take profit: 1346.56.

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