Here we had also the situation that, from the low at eight hundred eighty dollars, ethereum started to move up in a wave. One came down in a wave two so far. Also, this move up here is working out yeah we have um in yellow, so we have obviously, this white wave count wave one here, oops one second just need to move that back. That was the first impulse consisting of five waves. Up this at the moment seems to have been the white wave 2, consisting of abc and yellow. Now we are in white wave 3, which should take us to fifteen hundred fifty two dollars in this bullish wave count yeah um, and we might be here at the moment in yellow wave three um Music within which there might be some sub waves, because if we Count it like that we can count this as an impulse um, so that one two have has been completed um and then we have another subwave, one, two, three four five. Now that would have to be then, as per the count, yellow wave. Three. The problem is, or let me just check that i think it would work well with the extensions lets check that yeah. I know that would work very well as a target for a wave. Three but then we have a problem that the wave uh three in white would still need to be its quite a bit of a distance away. So the the wave um four, which then obviously came now and the wave five in yellow the wave five would need to be very long yeah.

So there might be another sub set of waves which will have to be coming in to support that. But this is what we can see now: one two three yeah, and what very well works with that um, which confirms this wave count, is actually that we had here. A three wave move down abc ill, make that yellow again and this wave 4, then in yellow perfectly adhered again to the um and ill. Take that out again to the retracement levels here, because if we can, if we take a look at the fibonacci retracement tool, calculate the length of that wave 3 and just look at the retracements, i mean. What i always say is what you would usually expect in a wave 4 is the 38.2 fibonacci retracement level. It was touched and a very strong reaction to it and what you can hear see again is already a first impulse again a one, a two, a three, a four and now the five probably emerging taking us into this red target area. So this is getting interesting. Yeah and i think, as soon as we get similar to bitcoin a move above the swing high here at 1255, or even better above 1280, because this is sort of the end of the zone. But probably more resistance will be at 12.55 theres. Only a few weeks going up, i believe they might not be that relevant, so its probably more than 1255 level. If you break above that, and also similar to bitcoin yeah bitcoin is currently in a similar situation, and we see a retest from above.

That could really push prices further up and there isnt much there. There is not much resistance here on the way, so i believe that the 1550 level will be quite um. We will be in reach if we really make it above this level. That would also be in line with the white wave count here in um of that wave three, that higher level wave count for an impulse, so this currently um gives some hope at least, but the crucial level, as i said, is to break this. So i dont want to hype anything here, but as soon as we break this resistance level, it could really push prices up into this region up here, as i said, there is not much resistance here. What you can see here is you know. Maybe there will be some resistance around that wave. One low, which pretty much goes well together with a 1.272 extension here at one and one thousand 1440, but probably more significant, will really be the 1.618 extension level, which is generally a target for the wave 3 anyway and which is also the wave too high here. So it remains interesting ill keep an eye on it. When will this be over, in my opinion, as soon as we make a lower low? So if we come, if we go – and i would say probably its this one here – that significant weight for low should we really break down, make a lower low compared to that one below 1180 and then retest it from below as well.

I think then we are going down and then in that scenario, what could be the case is that this he was just an overshooting wave b, even though i have really difficulties to count it like that um because it comes really impulsive across impulsively yeah. So, however, this could then be just an a a b, an overshooting wave b, and the wave c should then come down again into this yellow target area between 940 and um 1030.. So this is sort of the less bullish count, which just means we have another larger correction before we can move up, and should we really go through this area and then also below 880, then we have to assume that the whole correction obviously wasnt finished yet and That we will go much much deeper, because if this is the case, then we this year that five wave move which has come down here in yellow one. Two. Three four five was probably only the first wave of a larger fifth wave on the way down here, and then we will really see far lower prices for ethereum. Currently, though, while this is still a risk and we have to have it on the radar um as long as we are going up here at the moment in impulsive waves, we dont well, i i dont have a reason, and i cannot i can ask anything. You know what, if what, if what, if but at the moment, um because the targets were reached here on the lower end and we have seen five wave moves down, we can obviously follow this impulse now to the upside and look at if critical price levels will Get confirmed and one of these, these price levels is the 1255 level okay.