Elliott wave Ethereum analysis 08.12.2022

Ethereum is building a sideways correction B as a double three [W]-[X]-[Y]. This correction is part of the A-B-C zigzag. Linking wave [X] has been recently 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 for today:

Buy 1226.63,

Take profit: 1346.56.

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