Elliott wave Ethereum analysis 26.01.2023

The ETHUSD market is constructing 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 unfolding as an impulse (1)-(2)-(3)-(4)-(5). It is expected to end around the level of 1802.00. Then expect a slight decrease in the correction [4], followed by the development of the sub-wave [5]. A possible future price movement is shown in the chart.

Trading plan for ETHUSD for today:

Buy 1613.51,

Take profit: 1802.00.

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