Elliott wave Ethereum analysis 07.11.2022

The ETHUSD market continues forming the first actionary wave of the bullish standard zigzag, i.e., wave (A). It looks like a simple five-wave impulse composed of sub-waves 1-2-3-4-5. The corrective decline within sub-wave 4 has recently ended, so soon, the price may move up within sub-wave 5. Wave 5 may end around the level of 1748.00. At this level, its value will be equal to 50% of impulse 3.

Trading plan for ETHUSD today:

Buy 1588.51,

Take profit: 1748.00

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