Thursday Update 09.02.2023 -ethereum
Much has been said in our bitcoin update, which we posted a few minutes ago. Ethereum managed to build up enough bearish momentum and established a bearish wave (i) wave (ii) setup.
The pressure of this wave (iii) now unloads, and we estimate that this movement has further potential on the downside. The price should enter our orange zone and the first target is at 1519$, however we think that further extensions such as the one at 1477$ will be touched.
For everyone who wants to expand their long positions, we will announce a buy zone in the upcoming days, and we will publish our acquisitions too! Don’t panic right now, this is a healthy correction which will build a sustainable foundation for further price increases.
Be very careful in the next days because we could change our count and stay tuned for future updates!
VERY IMPORTANT:
We wrote about our alt.(c) before and I can't stress this enough…
If the market keeps up this immense bullish power of the past months, it could be that we only get a small setback in this wave movement and bitcoin could start its bullish wave (iii) marked in blue sooner!
Long Ethereum (ETHUSD)
AVERAGE EXECUTION PRICE: 1’057.6$
STOP-LOSS: NONE
LONGERM Target: +8’000$