$ETH Update
I still primarily expect that we are entering a Wave 4 correction.
Key correction zone: $4,285 – $3,535
Rule: corrections usually retest the previous internal Wave 4 → so we should at least see a lower low under $4,062.
Wave 4 corrections are time-based → likely we’ll see an extended sideways range before continuation.
On the right side of my chart, I’ve sketched an alternative scenario: Wave 4 already completed, which would mean we push directly into Wave 5. In that case, the target zone would be $5,700 – $6,800, but that would also imply the completion of this upward structure, followed by a much larger correction.
I favor the Wave 4 sideways scenario for several reasons:
Wave 3 itself was very extended → not typical for a clean new 1–2 setup.
Within Wave 3, Wave 4 to Wave 5 was extremely extended → extended 5s often appear in Wave 3s.
