Elliott wave Ethereum analysis 19.12.2022

The Ethereum market is building a bearish A-B-C zigzag in the long term. As part of this zigzag, a long corrective wave B has come to an end. It consists of three main sub-waves [W]-[X]-[Y]. Thus, the formation of the initial part of the downward wave C, consisting of sub-waves [1]-[2]-[3]-[4]-[5], is expected soon. It will end at level 1050.00, where wave C is 50% of impulse A.

Trading plan for ETHUSD for today:

Sell 1177.92,

Take profit: 1050.00.

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