Elliott wave Ethereum analysis 24.01.2023

The ETHUSD market forms an upward impulse wave C, the final one in the unfolding zigzag (Y). Wave C consists of sub-waves [1]-[2]-[3]-[4]-[5]. Now the middle sub-wave [3] is being built as an impulse (1)-(2)-(3)-(4)-(5). It is expected to end near the level of 1799.00. Then expect a slight decrease in the correction [4], after which the sub-wave [5] will start unfolding.  A possible price movement is shown in the chart.

Trading plan for ETHUSD for today:

Buy 1632.90,

Take profit: 1799.00.

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