Ethereum, 2 OCT – Elliott Waves | Gann | Wyckoff $ETH For INDEX:ETHUSD By Constellations

The Elliott wave count in ETH has been complex and therefore we can look at the construction as a Wyckoff accumulation.

The spring precedes the STs (secondary tests), which is rare but possible.

We have left the stage of LPS and are now looking for signs of strength (SOS), potentially a wave iv (green count), followed by another higher high.

The current wave can also be the (c) of an (a)(b)(c), in blue. If correct, we may see a decline again – despite the fact that price just consolidated for 8 days. However it would make sense in correlation with QQQ . Just as a word of caution.

Potential resistance zones are:

– 3436 the . 618 retracement from the 4028 high

– 3500 median between two Gann levels & 1.618 extension of (a)

– 37200 Gann level


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These abbreviations in the chart describe ideas that are provided as educational information and do not constitute financial advice:

STO = sell to open
BTC = buy to close

BTO = buy to open
STC = sell to close
TD = Theta Decay (for example a strangle or iron condor)

Disclaimer:

The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.