$ETHUSD $ETH: Bulls Can Push #Etherium to a New All Time High

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$ETHUSD $ETH #long setup

The macro wave count considers the A up, B down, C up move off the 2022 low as a huge corrective wave -B- up:

ETHUSD weekly, Macro count

Let’s zoom in to a 240 min chart:

ETHUSD 240 min chart

Let’s zoom in to a 1 hour chart:

ETHUSD 60 min chart

The good news for bulls is that we can count the overlapping complex (a)-(b)-(c)-(d)-(e) down triangle structure as completed. In addition, the final spike down in a subwave (e) tagged the Fat Demand Zone. That is a textbook completion of a large corrective structure.

So bulls got a setup for a new big rally.

The bad news for bears is that bulls just can NOT break a bearish sequence of lower highs.

The key resistance is 4,090 – 4,100.

Break over that resistance would be the first confirmation of a bullish reversal. But at this point its a risky bet to go long until that 4,090 – 4,100 resistance gets violated.

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