$ETH Here's my analysis based on if this then that play (IFTTT)
1. The 1st pic shows the weekly view of Ethereum. The red trendline below which started sometime in June 2021 had held until around June 2025 where it was broken but recovered in 2 months (8 weeks) which ended up giving price the recent retest of the 2021 ATH. So, a trendline break isn't always a clear sign as institutions know that retail use that as validation. An elaborated fake out is always a play they make.
2. In the current scheme of things, counting the wave structure shows waves 1 to 4 in white. A 5th wave is expected equal or higher to wave 3 peak which is the new ATH. Now am not an EW expert but I know it takes 5 waves which can be full or truncated.
Price is currently making the 4th wave which should target the weekly FVG (white rectangle) around $2,800 to $2,920 region where a bounce is expected. This can be seen clearly in pics 2.
3. This region is also the 0.618 fib level of the whole move from $1,385 to $4,956 ATH. A break or elaborated fake out could play but we will bounce up back if we are to go higher to $5k (Scenario A) or even continue the bear market as scenario B.
4. In pics 2, price has poked the white trendline on the Daily timeframe. But as usual, the break might be elaborate but that's not the end as it will rebound.
Pics 3 is the 4-hour view where we can already see a relief bounce and an almost equal low formed with the cascaded liquidation move of Nov 4th, 2025.
The RSI will be divergent if price goes lower at this point which signals a guaranteed rebound to $3,700 region.
Key Takeaway: There is still hope because even BTC.D hasn't retested the lower channel line of at 58.16%.
Give or take 8 weeks (2months) all will be clear. It might just be a 2nd chance given to those who missed the 1st move.
There is a lot to share from my view, but I'll stop here for now. More to come.
Please don't take this as financial advice but a glimpse of my view of Ethereum.
Stay safe.
#MarketPullback
#ProjectCrypto
1. The 1st pic shows the weekly view of Ethereum. The red trendline below which started sometime in June 2021 had held until around June 2025 where it was broken but recovered in 2 months (8 weeks) which ended up giving price the recent retest of the 2021 ATH. So, a trendline break isn't always a clear sign as institutions know that retail use that as validation. An elaborated fake out is always a play they make.
2. In the current scheme of things, counting the wave structure shows waves 1 to 4 in white. A 5th wave is expected equal or higher to wave 3 peak which is the new ATH. Now am not an EW expert but I know it takes 5 waves which can be full or truncated.
Price is currently making the 4th wave which should target the weekly FVG (white rectangle) around $2,800 to $2,920 region where a bounce is expected. This can be seen clearly in pics 2.
3. This region is also the 0.618 fib level of the whole move from $1,385 to $4,956 ATH. A break or elaborated fake out could play but we will bounce up back if we are to go higher to $5k (Scenario A) or even continue the bear market as scenario B.
4. In pics 2, price has poked the white trendline on the Daily timeframe. But as usual, the break might be elaborate but that's not the end as it will rebound.
Pics 3 is the 4-hour view where we can already see a relief bounce and an almost equal low formed with the cascaded liquidation move of Nov 4th, 2025.
The RSI will be divergent if price goes lower at this point which signals a guaranteed rebound to $3,700 region.
Key Takeaway: There is still hope because even BTC.D hasn't retested the lower channel line of at 58.16%.
Give or take 8 weeks (2months) all will be clear. It might just be a 2nd chance given to those who missed the 1st move.
There is a lot to share from my view, but I'll stop here for now. More to come.
Please don't take this as financial advice but a glimpse of my view of Ethereum.
Stay safe.
#MarketPullback
#ProjectCrypto
