Today I want to introduce the ETH price analysis. Let’s consider it with the Elliott Waves. I suppose that now ETH is in Wave 4 and as you already know, it’s target is between 0.382 and 0.5 Fib retracement for the previous impulse. Thus, if you want to trade ETH, $4000 is a goo buy price.
What is the target? The Wave 5 is incoming and it’s target is 0.61 Fib from the difference between Wave 1 beginning and Wave 3 end, measured from Wave 4 bottom. The anticipated target is next to $6000, in case of altseason it is realistic target. Bitcoin can go sideways this time. Now we don’t see the true divergence with MACD on the daily chart. Trends usually finishes with the divergence on the higher timeframes. I will update analysis when it happens.