This means that wave (5) was shorter than I initially expected as I was prepared for a drop to 30k.
I have gone long on Ethereum from here as prices should enter an ABC correction to the upside from now.
A conservative target for this long is the end of wave (4) and a stop loss can be placed slightly below the wick at
If you take this trade it is best to buy the coins without leverage and hold them as the price could continue to drop.
My analysis points to higher prices from here but this is crypto and you should always be prepared for large drops at any momemt,
so only invest what you can afford to lose.
(This is not financial advice, you are responsible for any gains or losses you may incur)
GL, have fun!
Apologies to anyone who went long from this TA, I think its best to get out and re-enter lower. (Not financial advice, you are responsible for your gains and losses).
All the best! Good luck!