#BTCBreaks99K

Elliott Wave Analysis - Hourly Frame (ETH/USDT):

Current Situation (most likely):

We are at the end of a bullish Impulse Wave consisting of 5 waves, with signs of the fifth wave finishing or entering a correction.

⸻

Expected Wave Detail:

Wave 1:

• Started from the bottom at approximately ~1,858 (according to the bottom in the image).

• Ended at the first clear peak near approximately ~2,000.

Wave 2 (Corrective):

• Dropped slightly to approximately ~1,940–1,960.

• Correction of the “Zigzag” or “Flat” type.

Wave 3:

• Extended strongly to approximately ~2,232 (current price).

• Accompanied by very strong momentum (confirmed by strong RSI >90 and positive MACD).

Wave 4 (may have started now):

• We see a slowdown in movement, with a possibility of a corrective wave forming (of the Flat or Triangle type).

• Correction is expected towards the area:

• 2,100–2,074 (close to EMA20 and EMA50 in the larger frame).

• Provided that the bottom of Wave 1 is not broken.

Wave 5 (has not started yet or is in its beginning):

• If Wave 4 corrects, an upward movement is expected towards:

• 2,260–2,300 or higher

• Provided that the wave structure remains intact.

⸻

Current Wave Summary (1H):

• We are in Wave 4 or about to start it.

• Possible correction before the final rise (Wave 5).

• Expected support: 2,100 – 2,074.

• Next resistance: 2,245 then 2,296.