Elliot Wave setup on the ETH 4h chart. We're now in wave 4, which should be steep since wave 2 was shallow. so targeting the .382 fib for a long entry at $3290 (most likely) - but could go down to the .5 fib for a lower entry ($3115). SL just lower than the DOL on the weekly HTF (end of Nov). Wave 5 should run to $3993 or $4211 (TP at both).
If you're feeling brave, you could also short the rest of wave 4, but be aware this is going against the market upwards momentum and BOS in BTC dominance.
If you're feeling brave, you could also short the rest of wave 4, but be aware this is going against the market upwards momentum and BOS in BTC dominance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.