Elliott wave Ethereum analysis 07.03.2023

The ETHUSD market continues to form a global upward wave A as the impulse [1]-[2]-[3]-[4]-[5]. After the completion of the impulse sub-wave [3], a decline began 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 actionary sub-wave (Z) to look completed. The market will continue to decline within the sub-wave Y to a low of 1459.29, marked by a corrective sub-wave (4).

Trading plan for ETHUSD for today:

Sell 1572.11,

Take profit: 1459.29.

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