Ethereum - Relief uptrend, the bulls are stepping in!

Sep 24, 2022

• The bulls are ready to step in. They are waiting very patiently to enter the market for an upcoming uptrend! 
  
• I think this huge downtrend on the 4h chart is over and we need to go up now, because nothing moves in a straight line like Luna. 
  
• I see a lot of indicators on the stock market and also on other altcoins that the bulls are gaining strength temporarily. 
  
• But I think this will be just a relief rally before a continuation to the downside in the direction of the major bear market. 
  
• On the 4h chart we can spot a nice descending channel and the price is currently breaking out! I expect 0.618 FIB and the previous breakout level to be strong resistances where the bears will appear again. 
  
• According to my Elliott Wave analysis, we have finished the strong impulse wave to the downside and we are now looking for an ABC retracement. 
  
• Also, the price is consolidating in a symmetrical triangle and we are very close to a breakout, so place your orders if you trade Ethereum.
  
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