ETHEREUM - Higher Timeframe Overview

2weekly chart of Ethereum

We can see that we're currently in wave 3, subwave 4. Subwave 4 is looking like a WXY correction. Currently in wave X and expecting one more drop for wave Y.

We're anticipating wave 4 to be finish above the blue structure, which is our wave 4 invalidation level.

Trade Idea:
- On lower timeframe, watch for an ABC completion for wave X
- Once C wave is complete (of wave X), look for a trendline break or BOS to confirm bearish momentum
- enter with stops above wave X
- Target: 900, 650, taper position thereafter

Goodluck and as always, trade safe!