ETHUSD Elliott Wave Technical Analysis 01 February 2023
4Hour
Ethereum / U.S.Dollar (ETHUSD)
ETHUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (3)
Direction Next higher Degrees: wave ((1)) of Motive
Wave Cancel invalid Level: 1231
Ethereum / U.S.Dollar (ETHUSD) Trading Strategy: Ethereum continues to strengthen in its current impulse wave pattern. It is in the phase of a correction in wave (4), upon its completion, the price will increase in wave ((5)) again.
Bitcoin / U.S. dollar (BTCUSD) Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators have Bearish divergence watch out for Reversal
Daily
Ethereum / U.S.dollar(ETHUSD)
ETHUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave III
Direction Next higher Degrees: wave III of Motive
Wave Cancel invalid Level: 1073
Ethereum / U.S.dollar(ETHUSD) Trading Strategy: Ethereum recovered well from the 1073 level and could break the MA200 as a signal of weakening of the downtrend. As a result, the trend may change to an uptrend. And there is a tendency towards to the price target at 2943.
Ethereum / U.S.dollar(ETHUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish
