Hello traders, Ethereum in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
Based on the count we had for this currency, the 1st, 2nd and 3rd major waves are over, and we called it the 4th main wave, considering that the trend was not formed in the direction of the 3rd major wave.
We compared wave 4 in previous analyzes with wave 2 and said that this wave would be shallow and shorter in terms of time than wave 2, which was deep and long.
But due to the recent descent of wave 5 of the c-wave zigzag, it changed the notion that wave 4 would be shallow, as well as the structure we had for the wave.
Our idea now is that wave 4 is formed in the form of a zigzag that is almost complete or in the form of a flat that the c wave will be shorter than the other waves.
Generally:
We considered the descent to target 1.618 for the c-wave of the zigzag we identified in the analysis to be far-fetched, and expected at least half of this descent to be corrected.
And now we have a sideways trend that we will determine in the next analysis. This trend is an introduction to another decline to Fibonacci 0.618 for wave 4 compared to wave 3 or an introduction to ascent, which according to our calculations is more likely to ascend.
ðIf you have an idea that helps me provide a better analysis, I will be happy to write in the commentsð
âĪïļPlease, support this idea with a like and comment!âĪïļ
Based on the count we had for this currency, the 1st, 2nd and 3rd major waves are over, and we called it the 4th main wave, considering that the trend was not formed in the direction of the 3rd major wave.
We compared wave 4 in previous analyzes with wave 2 and said that this wave would be shallow and shorter in terms of time than wave 2, which was deep and long.
But due to the recent descent of wave 5 of the c-wave zigzag, it changed the notion that wave 4 would be shallow, as well as the structure we had for the wave.
Our idea now is that wave 4 is formed in the form of a zigzag that is almost complete or in the form of a flat that the c wave will be shorter than the other waves.
Generally:
We considered the descent to target 1.618 for the c-wave of the zigzag we identified in the analysis to be far-fetched, and expected at least half of this descent to be corrected.
And now we have a sideways trend that we will determine in the next analysis. This trend is an introduction to another decline to Fibonacci 0.618 for wave 4 compared to wave 3 or an introduction to ascent, which according to our calculations is more likely to ascend.
ðIf you have an idea that helps me provide a better analysis, I will be happy to write in the commentsð
âĪïļPlease, support this idea with a like and comment!âĪïļ