Elliott wave Ethereum analysis 12.1.2022

ETHUSD H1 timeframe shows the formation of a bearish A-B-C zigzag. Impulse wave A is fully completed. Now sideways correction B is unfolding as a double three [W]-[X]-[Y]. Recently linking wave [X] has been completed as a double zigzag. Then the market reversed, and the price rose within the final actionary wave [Y]. Wave [Y] may take the shape of zigzag (A)-(B)-(C). This zigzag will end around the high of 1346.56, marked by wave [W].

Trading plan for ETHUSD today:

Buy 1283.02,

Take profit: 1346.56

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