Elliott wave Ethereum analysis 27.12.2022

ETHUSD H1 timeframe shows a bearish zigzag A-B-C. Within it, the long-term correction B, consisting of three main sub-waves [W]-[X]-[Y], has been completed. The most recent chart section displays the formation of the initial part of the downward wave C composed of sub-waves [1]-[2]-[3]-[4]-[5]. Sub-waves [1]-[2]-[3]-[4] have been completed. Sub-wave [5] is expected to end around 1050.00. At this level, wave C will be 50% of impulse A.

Trading plan for ETHUSD for today:

Sell 1222.05,

Take profit: 1050.00.

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