Possible Elliott Wave Playout for ETH 4h

This scenario illustrates a possible Elliott Wave playout on the 4 hour Ethereum chart, where we are preparing to enter wave 5, the final leg of the dominant trend. If correct, volume will be slightly lower than in wave 3, but there should still be plenty of potential profit to be made in a long position.

There is also some notable confluence between cycle-based analysis using the Tesla Coil (ML) indicator and traditional channel-based analysis as indicated by the predicted inflection point in the coil.

Comment:

As pointed out by someone on Discord, this technically exceeds a .382 retracement of wave 3, so wave 4 invalidates the Elliott Wave. However, there could still be an impulse analogous to wave 5.